Insurance?

harvgj19

Well-Known Member
Joined
9 January 2006
Messages
3,400
Location
Georgia, US of A
Well, I just got my renewal for Harv's insurance. I asked them to drop him down to basic coverage as he will now just be a happy hacker.

It came back at 310!!! I paid 308 last year and he was fully insured for hunting, jumping etc. Plus he now has the exclusions on his leg!

I don't know what to do...stick with this insurance company who know about his injury in case further problems arise, or look elsewhere for cheaper premiums...

Any ideas?????
 

Hayleycob

Well-Known Member
Joined
16 May 2007
Messages
212
I would ring them and ask them why. I assume he had the leg problem this year which would bump up your premium, but if the leg is excluded now surely it shouldn't count ? I have very little faith in insurance companys !
 

harvgj19

Well-Known Member
Joined
9 January 2006
Messages
3,400
Location
Georgia, US of A
I did ask why and she said that the cost of claims last year had pushed all premiums up.
They were very good when claiming. I did nothing other than initiate it. They contacted the vet and chased invoices and paid on time. This price hike does seem pretty extreme though.
 

ladyt25

Well-Known Member
Joined
30 November 2007
Messages
7,792
Location
Leeds
What value is your horse insured for? Have you had many claims? Many insurance companies have increased their rates this year due to the market (the company I work for included) but some more than others and companies are going to differ premium wise depending on what covers you want and what packages they provide. I presume the premium still includes some vets fees cover? If so your premium is probably going to be pretty similar anywhere but then it will also depend on the horse value.

maybe shop around, see what alternative quotes you can get and, if you are happy enough to stay with who you're with, go back with any more competitive quote and see whether existing company can compete/match.

Unfortunately though if you have claimed frequently or the loss ratio on your policy is high (ie you have claimed for more than you have paid the company) they are going to be unlikely to shift on premium I'm afraid. Still, as with all types of insurance it's worth haggling!!!
 
Top