loan agreements and insurance

[kombikids]

hi there - does anyone know anything about loan agreements and insurance? I am using the bhs template but it states having public liability, is this something i need to do seperatly? I am with E and L at the mo, is it easier for me to keep paying the insurance as am not sure if i can cancel it anyway? Is there anything else useful i should include in the agreement? Have a super home for my mare but want to make sure that we have included everything for both our sakes. thanks

 

[dianchi]

Popet, I would move insurance to NFU and go through with them that you are loaning the horse out, just to be safe- dnt rate E&L(eno said)!

Just make sure you have whos responisbilty is what and return notice period.

 

[fairhill]

I was going to post very similar! My mare is going on permanent loan at the weekend and I'm trying to adapt the BHS template for her now.

The place where my mare is going has got liability insurance, but we're going to carry on paying the insurance to make sure she's covered for vets fees.

You might be worth checking that her new owner takes out some sort of rider insurance if you do decide to carry on with your own insurance

It's free if you're a BHS gold member

 

[kombikids]

i know everyone hates e and l - didnt know that when i took it out! shall chat to b and see what she says. thanks you. x

 

[blueberry]

Hi, we our with Pet Plan and they state that i have to insure the horse that is out on loan and i then charge the loaner for the insurance. She pays a standing order into my account each month.
I have then sent Pet Plan a copy of the BHS loan agreement which the insurance company asked for.

 

[jhoward]

i got duped, i had it in my loan agreement that the horse was to be fully insured and that i must have a copy of the insurance,

it turns out that the woman that loaned him falsified a cover note, it wasnt until i rang petplan that i found this out.

my suggestion would be to have the horse fully insured, but to pay for it you self and request the loaner sets up a direct debit to youself each month.

or if they do it themself the ring the insurance company and check it out, for your own peice of mind

 

[wendy42]

Hi I have a horse on loan at the moment and the insurance is in my name - I would definately recommend that you keep it in the owners name! The horse I have had to have a foot op 6 weeks ago, insured with NFU - they have been brill- but the loan agreement is due to end at the end of May and when she is returned to the owner if anything flares up with the injured foot she will have no insurance (insurers tend to exclude recent injuries), this really concerns me as I know the owner cannot afford treatment for the mare but my own circumstances dictate that she must go back at the end of May. Had the insurance been in the Owners name this wouldn't have been a problem - the wonders of hind sight!! (I used the BHS template too)