Loaning and insurance

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Ranyhyn

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Do you as a loanee pay insurance for your loan horse? Or does the owner?
Is it reasonable to ask a loanee to insure a horse, or do you the owner like to keep the insurance yourself?
Are there any legal/responsibility things to note regarding insurance and loaning?
 
As a current loaner, the owner has kept their policy but I pay owner a monthly standing order to cover the premium.

Best way in my opinion
 
Owner of my daughters loan pony has kept insurance in her name, easiest way. She's notified them that he's out on loan and given my details and his location. I transfer the insurance premium to the owner each month. This arrangement is also detailed in our loan agreement.
 
ihatework said:
As a current loaner, the owner has kept their policy but I pay owner a monthly standing order to cover the premium.

Best way in my opinion
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I agree this is the best way , any owner who has a horse on loan with no third party insurance in place is taking an enormous risk.
 
The benefit to the owner of a horse going out on loan is that
1)the owner is 100% sure the horse is fully covered,
2)if the loaner returns the horse ill/ injured the insurance will continue to provide care (if the loaner was the insurer they would probably cancel the insurance once the horse has been returned).
3) if the worst happened and the horse died the insurance pay out would go to the owner not the loanee
4) for older horses going on loan it is likely to be cheaper to continue an existing policy than the loanee looking to start a new policy (over 16s can get illness cover if they have been previously insured but commonly only accident only if it's a new policy)

For the loanee I'm not sure it makes much difference either way
The loanee would need rider insurance of some form to cover their personal accident and I'd suggest to anyone who may handle anyone elses horses at any point to get BHS type third party - it's very cheap and covers you individually in so many situations
 
I have a pony on loan - the owner contacted the insurers to inform them and I now pay the premium direct to the insurers, but cannot change anything on the policy without the owners permission.
 
I have a horse on full loan, I have insured him, and the policy is in my name. The insurance company are aware that he is on loan to me, they also have the owners details and contacted her to inform horse was insured.


Personally I can see the point about the owner insuring and loaner paying the premium (so long as the insurance company is informed) as it gives piece of mind to the owner. As I imaging not all loaners are responsible enough to bother to insure, although the same can be said for owners.
 
Polos Mum said:
For the loanee I'm not sure it makes much difference either way
The loanee would need rider insurance of some form to cover their personal accident and I'd suggest to anyone who may handle anyone elses horses at any point to get BHS type third party - it's very cheap and covers you individually in so many situations
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It does make a difference, because sometimes the owners aren't being fair so they may not insure the horse or ''forget'' but keep reciving the premium from loaner.
I have a mare on loan, the owner has asked for proof of insurance to make sure that she's insured but i insure her myself, this also gives me personal cover. But everyone prefers to do it differently :)
 
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