Insurance up again

Penny Less

Penny Less

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10 March 2009
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Horse insurance gone up another £38, never claimed. Im beginning to wonder if its worth it. especially as excess gone up and you have to pay a percentage of the rest of the cost. Horse is 19 now so I suppose Im lucky that company will ensure for vets fees, but what with the car insurance. house insurance and dog insurance as well, its a lot of money a month.
 
Apart from my mortgage, the most expensive thing each month is my horse insurance. Ebony costs me more than even my house does to insure lol. She has just turned 20 and my renewal is due in soon. I am now at a point of thinking about putting her onto a Vet Cover only, but I said this last year then at the last min changed my mind. What I have to think of now is if she had to have a operation would I put her through it, its a hard call and even now I do not know what to do for the best. So I do understand where you are coming from its a lot of money each month. I normally say one thing and then do another lol
 
if i was you I would stop the insurance and every week or month put some money aside to cover any unexpected bills from the vet thats what I do and it works fine for me :) unless you go out of your yard alot like for hacking etc :)
 
I cancelled my old girls insurance! she is 29 now but paid for 13yrs and the one time I needed to claim they wouldn't let me! so just have BHS cover for public liability now! if I'd have saved my premiums over the years I would have been better offer!
 
I was shocked to get a renewal which is 50% more than last year and I only have a basic death policy, no vet or PL on it and not claimed for years! I'll be ringing on Tuesday to query it.
 
But there are so many expensive things that can be done now, that people expect to be covered for, it's not surprising. Insurance companies have to make a profit, after all, and they really are just a form of gambling - they depend on more people paying in that will ever collect. The more people who use their insurance, the more it will cost everyone.
 
The cost of insurance reflects the cost of the claims .
That tells you something lots of people are making lots of claims .
I don't insure I have third party and keep the vets on a tight line when we need to do stuff.
I have a fund for big one off emergencys and pay the rest as I go.
It's the freedom I like the most
All the decisions are mine .
 
Horse doesn't go off the yard, I think I might just do Public liability. I know he could have an accident in the yard or get colic I suppose.
 
Mine are usually youngsters so again, don't go anywhere but with insurance I just like the buffer that if things do go wrong that I have a bit of money back to source another or repay the stud keep and fees that it cost; I don't like anything to be a dead loss as it were and I know, sod's law that if I stopped paying in I'd have a loss!
 
My insurance claims for April will probably be more than I have ever paid in premiums for all the horses I have ever owned. When your horse is critically ill & you are just hoping it will make it as far as intensive care at a weekend you really don't want to be having to think about the money. Especially when it happens with 2 horses on consecutive weekends. Having said that I probably wouldn't want to put an elderly horse through too much treatment wise so it just depends on the balance of your own situation.
 
Maesfen said:
I was shocked to get a renewal which is 50% more than last year and I only have a basic death policy, no vet or PL on it and not claimed for years! I'll be ringing on Tuesday to query it.
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If by basic death you mean money to cover pts/disposal, then it might be worth getting your house insurance through NFU as horse death is covered as standard on their policy, as is tack. So it saves having both.
 
Lizzie66 said:
If by basic death you mean money to cover pts/disposal, then it might be worth getting your house insurance through NFU as horse death is covered as standard on their policy, as is tack. So it saves having both.
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No, I mean a basic policy without vet fees that covers death by accident, illness or disease so it pays out the value you insure for. I have PL with BhS Gold membership as I have a few horses and it's more cost effective but thanks for the tip, I'm sure it will help others.
 
I have always put a set amount of money aside in an account each month. It works best because I reckon I have saved from it. It also means that you have more freedom and I always like the fact that it's not a set amount each month:)
 
TarrSteps said:
But there are so many expensive things that can be done now, that people expect to be covered for, it's not surprising. Insurance companies have to make a profit, after all, and they really are just a form of gambling - they depend on more people paying in that will ever collect. The more people who use their insurance, the more it will cost everyone.
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Goldenstar said:
The cost of insurance reflects the cost of the claims .
That tells you something lots of people are making lots of claims .
.
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totally agree
 
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