Insurance t's and c's

ktj1891

ktj1891

Well-Known Member
Joined
15 March 2010
Messages
1,584
Visit site
If I change insurers now and possible have to take a claim out in January would the new insurers cover the claim.
 
Depends o the type of claims and there will be at least a 14 day deferment period for illness, sickness cover. Why would you think you may need to claim in January? The new Insurers will need a date of loss, thus the date that the lameness or condition manifested itself, the vet will have to confirm this, if the date is found to be dec then the new insurers will not look to pay this claim. Also you will have nondisclosure to consider, you must disclose all material facts to your new insurers so if you KNOW you will be claiming for something the then horse is obviously not fit and well when yiu are taking out the cover, if the insurers are any good this will be found out and the claim will not be paid and your policy may be treated as null and void.

Your existing vets fees cover, with your exisiting insurers may run for 365 days whether the policy was renewed or not so if the date of loss is dec then you could claim with your current insurers and the claim, if covered, should be met for up to 365 days. But please check your terms and conditions as each insurer is slightly diff3rent. Hope this helps.
 
topstripelucy said:
Depends o the type of claims and there will be at least a 14 day deferment period for illness, sickness cover. Why would you think you may need to claim in January? The new Insurers will need a date of loss, thus the date that the lameness or condition manifested itself, the vet will have to confirm this, if the date is found to be dec then the new insurers will not look to pay this claim. Also you will have nondisclosure to consider, you must disclose all material facts to your new insurers so if you KNOW you will be claiming for something the then horse is obviously not fit and well when yiu are taking out the cover, if the insurers are any good this will be found out and the claim will not be paid and your policy may be treated as null and void.

Your existing vets fees cover, with your exisiting insurers may run for 365 days whether the policy was renewed or not so if the date of loss is dec then you could claim with your current insurers and the claim, if covered, should be met for up to 365 days. But please check your terms and conditions as each insurer is slightly diff3rent. Hope this helps.
Click to expand...

Ha ha, you're as bad as me - you see the "Insurance" bit in the title and you're on it! :D
 
After the 14 day period yes if it's a brand new condition or accident......no if horsey has condition now and you don't claim until after 14 day period of new insurance if that makes sense
 
Well I have wanted to change to cheaper insurer for some time and I am having my horse looked at in jan for dragging toes so it may be a possibility that I need to make a claim. So I didn't know whether I would safely be covered. It's not an existing illness. Something I have just decided to have vet look at in jan but may need further investigation.
 
I'm changing two of mine next year.....both are mature horses so will only have accident, injury vets fees on them, maybe illness if it doesn't reflect age.
 
ktj1891 said:
Well I have wanted to change to cheaper insurer for some time and I am having my horse looked at in jan for dragging toes so it may be a possibility that I need to make a claim. So I didn't know whether I would safely be covered. It's not an existing illness. Something I have just decided to have vet look at in jan but may need further investigation.
Click to expand...

If you are already aware that there MIGHT be a problem now even if you haven't booked in with or spoken to the vet yet then you would be expected to tell the new insurers about it.

... if however they didn't ask then you might get away with it depending on how good their claims process is and how good you are at arguing but there would be no guarantees as it's very likely written in their small print that you must disclose any known symptoms so would depend on the mood of the company and / or the ombudsman depending on how hard you fought - neither are likely to be consistent!

Personally if I was certain that I needed to claim and it was going to be expensive I'd probably put up with my current insurer for one more year rather than risk it being rejected unless likely to save more than the cost of the claim by switching insurers.

(have worked in insurance & underwriting for 12yrs!) :)
 
OP,your horse is dragging his toes now,(regardless of whether you have decided to investigate in Jan),so I would say a new insurer would most definitely do their utmost best to argue that this is a pre-existing/current condition. (Also,you have posted on here now asking about it,so they could prove it if they really wanted.) I really wouldn't risk trying to get a new insurer to cover this,soz.:( Hope your horse is ok it's nothing serious tho:)
 
Okay if I rang current insurers saying I was considering changing upon renewal. Would they take and lower my policy for me? Like you can do with car insurance?
 
From personal experience I would not recommend changing insurers now, they WILL argue that it is a pre-existing condition and will fight not to pay out for it. I was very unhappy with how I was dealt with by NFU but waited until my insurance renewal, I had an ongoing claim that was going to be 12 months old 4 months after my renewal so I knew that it would be covered until then. The renewal quote came and with a rocket in my insurance I shopped about and went with KBIS, fully disclosing with vet reports what had been going on with my horse. They quoted me a lot cheaper with a higher level of cover. NFU basically excluded my horse for everything apart from colic, KBIS only excluded the problem bits plus their colic cover is a lot higher. Everyone ended up being happy and I had no further problems.
 
ktj1891 said:
Okay if I rang current insurers saying I was considering changing upon renewal. Would they take and lower my policy for me? Like you can do with car insurance?
Click to expand...

You can but it depends on who you are with, when I asked NFU to think again on their quote, they said they couldn't negotiate anymore as they had outsourced their equine cover to someone else. KBIS were open to negotiation.
 
I was with them for over 10 years but that apparently means nothing anymore, my premium went up from £400 to £575 with nothing apart from colic covered, for a horse with cost £2k. I said no thanks when they refused to negotiate and I was lucky that when they got Equine First to investigate my claim that Rossdales were really patient with being paid very late.
 
You must log in or register to reply here.
Top