Loaning-LOU insurance question

[pedilia]

One of mine is soon going out on loan, because of his value and that I insure for LOU his premium is just over £1,400 a year.
My expectation is that the loaner pays this as part of having him on loan, whether she arranges it herself or pays me. I have always paid for insurance for amything I have had on loan or LWVTB.
Is that fair?

 

[Syrah]

I wouldn't say it's fair for the loanee to pay for LOU as you'll get the money from the insurance company.

As for vets fees, it depends on the loan agreement.

 

[Puppy]

I would just keep the existing policy running but get the loaner to set up a DD to pay the premiums.

 

[galaxy]

I wouldn't say it's fair for the loanee to pay for LOU as you'll get the money from the insurance company.

As for vets fees, it depends on the loan agreement.

Totally agree. The loaner has nothing really to gain from insuring him, esp to that degree.

I always recommend the owner keeps insuring. You are the one who would receive a pay out and then at least if you receive a broken horse back you have the insurance to be able to continue any claim.

 

[BentleyBelly]

My pony is on loan to me and I have my own insurance that covers vets fees and third party liability, I wouldn't pay the premium for LOU as the payout would go to the owner not me.

 

[pedilia]

I think you guys are right, I am thinking her paying tha amount that covers vets fees and I pay the difference that would be the LOU.

I could keep paying his whole premium but I do feel that someone takin a horse on loan should be paying his costs, that is certainly what I have always done.