Insurance question

[Peacelily]

My horse is coming of age at the ripe of age of 16....(I didn't think that was that old - but hey...) and we've been contacted by our insurance company asking if we want to change the amount she's insured for? and that now she is no longer covered for loss of use.
She's now doing more comps than ever and is sparkly fresh and (touch wood) never has a problem.
Surely people have horses who are past the age of 16 who are still reasonably valuable, and who want to cover them for loss of use......or am I being stupid?? I don't want to have to back off what she's doing as she's just as likely to pull a tendon careering around the field or on a xc course.....
what does anyone do about this? are there insurers who will continue with loss of use above the age of 16? (i saw one that quoted they wouldn't past 12...eep!)

 

[Jambo]

Your horse unfortunately is now classed as a "veteran". If you had claimed for loss of use you would only be given a percentage of it's total worth. I was given 60% for my horse at the same age.
At least now you'll be paying less each month for cover!

 

[SDH]

Which insurance company are you with?

I'm with NFU and because i'm renewing his insurance, they will continue to cover my 16yr old (until he is 19, then he will move to a veterans policy)

 

[ladyt25]

I think only Petplan and NFU will extend cover for illness and possibly LOU to a higher age limit. Most companies will nto offer illness cover/LOU once the horse is 16. This is traditionally the age a horse has become a 'veteran' and, although nowadays horses tend to live for longer, most insurance companies have kept this age as the turning point.

I guess it's the same with veteran showing classes, a veteran is generally classed as such once over 15 yo, it's been like this for years.

The point is that obviously once a horse is older it is more likely to suffer degenerative conditions and may be prone more to illness than a younger animal so insurance companies obviously see this as a higher risk and, unless their figures/claims payouts decrease it is unlikely the majority are going to take on the added risk of extending cover for older horses I'm afraid. Equine insurance is not really v profitable!

If you really need illness/LOU cover then NFU and Petplan are your best bet but obviously the premiums will reflect the increase of risk they are covering.

 

[nobbster]

[ QUOTE ]
Your horse unfortunately is now classed as a "veteran". If you had claimed for loss of use you would only be given a percentage of it's total worth. I was given 60% for my horse at the same age.
At least now you'll be paying less each month for cover!

[/ QUOTE ]

with petplan they will; cover upto 25 for illness and injury for full si and then move o vetran at 25 xx