Loaning horses & Insurance

[Asha]

Ive never loaned a horse out before , so a bit in the dark with what is the norm. What do people expect loaners to do ref insurance ?

Horse in question is my homebred , who is kept at my home ( no costs to loaner whatsoever) and the loaner comes and rides from here. However, loaner wants to hire a horsebox and take her out every now and then. ( i do offer to take her places, but understandably she wants some independence )

My concerns would be my tack gets stolen /horse gets injured in transit / out and about, so just want some assurance that something is in place should something go wrong. Ive had a quote from KBIS, and its coming in at £1.2k.

Thanks !

 

[doodle]

I kept Abbey insured myself and loaner paid me back.

 

[The Trooper]

Belle is entirely my responsibility. Livery, whether I insure or not, farrier etc etc.

When I did have her insured the insurer knew I was the loaner and not owner. Watch out for tack insurance as some of the stipulations for paying out after theft are ridiculous in terms of security precautions that you need to take.

 

[Surbie]

Wow that's high!! I have a horse on full loan on my choice of yard to do unaffiliated competing, hacking, fun rides etc and hold the insurance rather than the owner. As far as I know that's not the norm & usually the owner holds the insurance. His tack isn't insured because it's not expensive. But my insurance is less than half that - is it your tack that is shooting it up so high?

 

[Asha]

Belle is entirely my responsibility. Livery, whether I insure or not, farrier etc etc.

When I did have her insured the insurer knew I was the loaner and not owner. Watch out for tack insurance as some of the stipulations for paying out after theft are ridiculous in terms of security precautions that you need to take.

Thanks for that , I went through the security for the tack . Fortunately my tack room is like Fort Knox ! So they where happy with that , they just stipulated that if stolen while out , then it must be by forced entry which makes sense

 

[Asha]

Wow that's high!! I have a horse on full loan on my choice of yard to do unaffiliated competing, hacking, fun rides etc and hold the insurance rather than the owner. As far as I know that's not the norm & usually the owner holds the insurance. His tack isn't insured because it's not expensive. But my insurance is less than half that - is it your tack that is shooting it up so high?

The tack is one of the reasons I wanted insurance taking out as I’ve worked blinking hard to get her really good stuff . The value of her is slightly irrelevant as she won’t be sold , that had a limited effect of overall quote. But I’m guessing vets fees cover will play a major part . Plus the horse needs to be insured for BE/BS . I guess that makes a difference?

 

[minesadouble]

When I had my mare on loan the owner kept her insurance and I covered the cost of i

 

[Surbie]

The tack is one of the reasons I wanted insurance taking out as I’ve worked blinking hard to get her really good stuff . The value of her is slightly irrelevant as she won’t be sold , that had a limited effect of overall quote. But I’m guessing vets fees cover will play a major part . Plus the horse needs to be insured for BE/BS . I guess that makes a difference?

Yep - we paddle in the shallow end. I can appreciate tack and affiliation would ratchet it up more. His tack is very nice and I like it, but the saddle's 5th hand so not worth huge amounts.

But if the loaner's not paying anything for keep then just paying insurance is a great deal for them even if the premium is high.

*resolutely NOT adding up what I spend on him!*

 

[Leo Walker]

1.2k a year is utterly insane and I would really resent paying that. Not because I would resent paying for the horse, but because its ridiculously high! I pay £25 a month for mine. Shes insured for a few hundred quid which is what I paid for her, her tacks covered, although the carriage is separate, and shes got vets fees for 5k

 

[Asha]

1.2k a year is utterly insane and I would really resent paying that. Not because I would resent paying for the horse, but because its ridiculously high! I pay £25 a month for mine. Shes insured for a few hundred quid which is what I paid for her, her tacks covered, although the carriage is separate, and shes got vets fees for 5k

who is that with ?

 

[MaxboleyBlack]

Mine are not on loan but i pay around £500 per year per horse including tack cover with NFU.

 

[Asha]

Mine are not on loan but i pay around £500 per year per horse including tack cover with NFU.

I will give them a buzz, thanks. Ive had quotes from KBIS and petplan, and both in the same ballpark of £108- £111/month

 

[ihatework]

The bulk of any insurance premium will be based on the vets fees.
Tack shouldn’t have a significant impact, certainly nowhere near 1.2k

I will give them a buzz, thanks. Ive had quotes from KBIS and petplan, and both in the same ballpark of £108- £111/month

Does that include LOU cover?
That’s a crazy amount.

 

[Asha]

The bulk of any insurance premium will be based on the vets fees.
Tack shouldn’t have a significant impact, certainly nowhere near 1.2k


Does that include LOU cover?
That’s a crazy amount.

No LOU , £5k vets . I haven’t insured mine for years, ( other than liability)so completely out of the loop as to pricing

 

[Leo Walker]

Its the insurance emporium. If you just want tack cover for 3k then its about £6 a month. It might be better to cover the tack on your home insurance though. I know mine is covered that way.

 

[criso]

If you are looking for accidents when competing/travelling, you could look at the catastrophe cover which KBIS and Shearwater offer. You would be covered for any injuries and Shearwater allow you to add on tack. I think mine was about £300 a year.

ETA I've had 3 different home insurers and none have allowed me to add my tack to my home insurance unless it's normally kept at home, however if you keep your horses at home, this may be an option.

 

[Lady Jane]

You can't say 1.2k is a ridiculous price unless you look at the small print. The classes of use and the level of vet cover really bumps it up. I use KBIS but I have heard that NFU is also good, and Petplan also pays out.
You get what you pay for but its a case of making sure you are not paying for cover you don't need, and have covered what you think you actually have. Reading the small print is tedious but essential

 

[Leo Walker]

You can't say 1.2k is a ridiculous price unless you look at the small print. The classes of use and the level of vet cover really bumps it up. I use KBIS but I have heard that NFU is also good, and Petplan also pays out.
You get what you pay for but its a case of making sure you are not paying for cover you don't need, and have covered what you think you actually have. Reading the small print is tedious but essential

I can say its a ridiculous price because it is. its nearly a thousand pounds a year more than I pay for the same level of cover