Insurance renewal - ouch!

Ludi-doodi

Ludi-doodi

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Today I've received my insurance renewal from NFU - who I have nothing but high regard for their professionalism and prompt response to my claims and queries. Anyhoo, they want nearly £20 a month :eek::eek:more than last year. An initial trawl of sites AmTrust Equine look like they might be even cheaper than I was paying last year. BUT the further I went into the site they want more information about the claims I've made and wouldn't provide a more detailed quote.

I knew the premium would go up this time as Ludo is now 17 (although they haven't changed him to their vetern policy) and we had 2 claims last year which totalled about £3500. I'm reluctant to go down the veteran path as he's very active, ridden 5-6 times a week and only last weekend completed and was placed at a ODE, he's certainly not at retiring stage just yet

So, the question is - do I stick with who I know and trust (even if it is half again what I paid last time) or go with someone else? If someone else, who can you recommend? Petplan Equine are extortionate Oh and I know that I have to avoid the one Everbody & Logic tells you to avoid!:D

One of the sites I looked at wanted a 2 stage vetting - I'm guessing if I went down that route, that would probably take care of any savings for this year, but ongoing it might be cheaper?

Sorry for my ramblings, anybody got any thoughts/advice/experiences in a similar situation??
 
Why not ring them and say you have been given cheaper quotes but would prefer to stay... see if that makes them a little more flexible? all insurance companies seem to just hoick up their rates regardless hence I change car and house every year - appreciate its not quite the same for horses though!
 
I would be tempted to stick with NFU (however I am with them so might be biased!).

You might find that if you switch company and then make a claim the new company may say that it was a pre-existing condition and not pay out (happened to me many years ago).
 
amtrust ask for all your details on claims etc but don't exclude things. i told them my mare has strangles and it was noted on her policy but not excluded. they have been very good for me and cheap compared to the likes of petplan
 
Im with *@ * and they put my insurance up,so phoned them and said how do I cancel if needed,they soon gave me a cheaper quote (cheaper than the one I have been paying).
Just phone NFU and tell them you have a better offer,they will soon sort it for you!!
 
I think you'll find that your insurance has gone up because you made two claims last year. The insurance company is a business afterall and their goal is to make money. If you move insurer you'll still have to declare the claims,and you'll probably find most other insurers will want more as your horse is now statistically more of a risk.
 
DAA83 said:
I think you'll find that your insurance has gone up because you made two claims last year.
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As I said in my opening I expected the premium to go up because of the two claims - its the fact that it's gone up by almost 40% that I'm surprised at and the fact the two claims combined were below the limit for a single claim. This new figure apparently includes a discount of £179 because I've been with them for 5+ years. I'm not trying to hide anything I'd be honest about the claims I've made - one was for a broken tooth - not something that I'd expect is that 'risky' or regular an occurance. Yes they are a business, yes their aim is to make money, none of this I dispute, it's just the amount of the increase is I feel is a bit over the top.
 
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My NFU premium has rocketed too...

My old boy was PTS just after the renewal last year and still had a few vets fees to do. then had 2 very small claims this year.... They did send me a letter a couple of months ago (before 2nd claim) saying due to my claims my premium would be increased. I though it was a little unfair as I have been with them for 6 years at least with no claims, then I had one year of bad luck and lost my boy so my premium goes up? The way the cookie crumbles I suppose. They've been brilliant paying out though...

But if you read through your policy documents they have increased loads of their cover.... Total amounts paid, but also things like my trailer cover was just "accidental damage" and now is "fully comprehensive". I haven't asked for these things, they have changed it....
 
Im paying less than I did last year and the horse value was put up. I think each company is different.
Everyone complains about E&L but theyre really NOT that bad.
 
Personally I would stick with the NFUM policy because I'm pretty sure they continue full cover (ie accident and illness) indefinately but once you move away the cover is often restricted to accidents only, whether that be a new company or you return to NFUM.

I would definately give them a call to see if they will drop the price by saying you have cheaper quotes elsewhere.

Also, could you drop his sum insured to save a bit of money? The vet fees cover is most important to me because they would give me very little for my older gent if the worst should happen (ie loss of animal) so all I really want is cover for all the costly vets bills!

Also, you may not need liabilty cover under your horse policy if you have a household policy or are a member of an equestrian affiliation (eg BD, BE, BSJA, etc) - but best to check with your insurer before you go cancelling it!
 
happihorse said:
Personally I would stick with the NFUM policy because I'm pretty sure they continue full cover (ie accident and illness) indefinately but once you move away the cover is often restricted to accidents only, whether that be a new company or you return to NFUM.

Also, could you drop his sum insured to save a bit of money? The vet fees cover is most important to me because they would give me very little for my older gent if the worst should happen (ie loss of animal) so all I really want is cover for all the costly vets bills!
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Very good points HH - I'll certainly ring them about the quotes that have been indicated by AmTrust, and I hadn't ever thought about changing his value, will ask them if that makes a difference too.
 
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