Is full insurance cover worth it?

dressager

dressager

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I am wondering whether to cancel my horse's insurance (just keep 3rd party, which is included with my BD membership). Do you all have vets bills covered?

Earlier in the year I had a huge vets bill for around 5k and my insurance only paid back 230 of it to my own vet and not to Liphook where my horse was referred, claiming he was not referred within 6 weeks of the symptoms occuring (they were mild at the time hence of course my vet didn't even think to refer him). Therefore, assuming a vets bill of that size is the worst case scenario (hopefully never again!) is it really worth paying for insurance which has so many exclusions and restrictions? Or is it suffice to have the money saved and ready incase of another sky high vets bill?! I am still annoyed with not getting my money back after paying so much in insurance every year... I don't have him down for loss of use anyway as they wanted silly money.

Would like to hear your thoughts.
 
Who are you insured with? I have not heard of needing to refer within a set time (aside from the year from start of symptoms), only that you have to notify the insurance company of anything from which a claim may arise, and any non-standard vet visits within a set period.

So far I am in profit with insurance companies, and I wouldn't be without it.
 
Another vote for NFU paid thousands and thousands out for my mare when she had her eye removed then broke her knee- no questions asked very quick payment too.

There was a thread on here the other week about people saving money instead of paying for insurance which is great as long as nothing goes wrong when you've only got a little bit saved!
 
if you are of the sort who is able to put away the ££ each month that would have gone to insurance in a savings account instead than maybe you could go without, but then if you have been doing that for say, 3 months then horse needs thousands spending on it for accident/colic/lameness then its not much use!
personally i would always ensure my horse is fully covered (with a reputable company!), i have had several large payouts from my insurer for my current horse (as well as the old mare!) without which, lord knows what would have happened..
to risky to go without insurance IMO (i don't have a never ending pot of money!) but of course, everyone is different!
smile.gif
 
My insurer paid out on my mares spavin claim and my own vet was way over 6 weeks before referring her - closer to 4 months in fact! I'm with Scottish Equestrian for my mare and my veteran - the cover has been great and they have never turned down any bills , even when I admitted I'd accidentally sent them the physio bill which I didn't think I was covered for they paid out saying that as the Vet had said it was neccessary for treatment they were willing to cover it.
 
Never heard of a time limit for referring unless outside 12 month claim time - if you're looking to save some most insurers do a "high excess" vet option so you know you can only goes over this - but still make sure you tell them if something happens in case it gets worse/continues & goes over excess.

Don't get caught out by not telling them as/when anything happens - if same problem was to recur after a policy renewal & you hadn't told them you'd most likely not get paid ont.
 
My first horse was insured for vets bills and I had a similar experience of poor payout. Since then I have only taken out 3rd party insurance. I think so long as I am confident that I can afford to have my horse treated if I need to then it is the best solution. He needed colic surgery last year at a cost of just under £4k but I still think that I am better off over the course of the last 8 years or so considering premiums and the excess I would have had to pay. I would say, if you can afford to then just insure 3rd party.
 
I am NFU and they have been ace. a friend thought of canceling hers then her horse became v poorly and her insurers paid for it so she is staying insured now xx
 
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