Loaning out a horse/insurance

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phoebe.and.bonnie

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Hello, I've been lucky enough to have found somebody who is really keen to take on my mare Bonnie on loan and EVEN BETTER willing to keep her at her current location making it much easier for me to visit/my family to check up on her regularly. However, I'm getting a bit stressed out about it all. I've written up a loan agreement based on the BHS sample, but am getting a bit confused about how to sort out insurance. I've specified that Bonnie must be insured for vets fees, 3rd party etc... but does the loaner sort out the insurance for themselves in their own name, or do I have the insurance in my name and make them pay me for it? Just because I'm thinking if (heaven forbid) anything happened to Bonnie... I wouldn't want the money for her death to be paid to her loaner, but to me?

Sorry if I'm being confusing, thank you xxx
 
When I took my horse on loan I paid the owner the premium and she kept the insurance going, just changing the address as the horse was kept at my house
 
You can either pay it and have the person pay you or insist they sort their own insurance but have something written in the contract about paying you "x" amount should the unthinkable happen. It's no big deal to them as the will get the money from the insurance anyway.

Kerry
 
my advice would be insure in your name and have loaner added as named on policy so she can pay etc.

i say this from bitter experiance, had a mare go on loan part of agreement was insurance.. she came back with an injury LUCKILY i managed to get my name on police but it was a lot of hard work

aso just be aware the BHS agreement isnt legally binding for it to be you need to make any amendments and take it to an equine solicitor that can tell you weather it would stand up in court or not.
 
Yes agree with post above - I loaned my boy to someone last summer and kept the insurance in my name so's if something awful happened I'd be compensated, but tell the insurance where he'll be kept and who's riding him.

Ehmn, the other thing is to make sure that you've established what access to him you'll have to see if he's OK, visit etc, plus what notice period. You need to be able to make sure he's OK at regular intervals, plus who's responsible for stuff like supplements/medication etc. Also you need to have a contingency plan in place in case things don't work out and you have to collect him quickly.

Personally I'd be very careful about loaning; don't let him leave your yard without an agreement in place (which you've run past a solicitor or whatever!!!). You need to have it firmly established what the period of the loan is; who EXACTLY is riding him; WHAT they're gonna do with him; what happens in an emergency; what access you have to him. That'll do for starters!
 
If I were you I'd pay the insurance myself, or you keep the policy going and get your loanee to give you the money - that way you know that the horse is actually insured. I've heard stories of people putting horses on loan where the loanee is supposed to be responsible for insurance, loanee stops paying, horse gets injured and then you have the whole problem of who pays for expensive treatment as horse is no longer insured.
 
Thanks for the advice, I'm definitely going to be keeping the policy in my name :) I'm so glad she's not moving from where she is now, makes it so much easier for my mum to keep an eye on her for me while I'm away! I'm getting so worried already about whether her loaner will look after her in the same way I've been!
 
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