Muddled about insurance...help please!

[Miss_Millie]

My mare's insurance will soon be ending/due for renewal, if I stay with current insurance company it will be going up by about £200 for the year.

I claimed last year for ulcer treatment, presumably I will not be able to claim for anything ulcer related again and this is probably why the yearly cost is increasing.

The document reads that she will not be insured for 'Any incident, illness, injury or disease that manifested, was present, or had been previously diagnosed in the horse before the start of your policy.' Does this mean before renewal, or before I originally took out the policy a year ago?

Also, she was originally insured for her purchase price, which imo was probably quite overpriced (purchased during covid horse price madness)...do I re-insure her for what I *think* she is worth now, vs. what I paid for her a year ago?

I am mostly wanting to re-insure to cover myself for anything that could rack up vet bills quickly...colic, freak accident/injury requiring surgery or long term rehab. E.g. all of the unthinkable things that *touch wood* will hopefully never happen.

I'm just mulling over whether to shop around and see if I can get a cheaper deal, or will I always be paying more now that my horse has ulcer treatment on her history? Would appreciate thoughts from anyone else who has been through a similar thing, thank you

 

[Sossigpoker]

The "before start of the policy " will mean before the start of the first policy if you're staying with the same company and there's no lapse in cover. You can insure her for what you think she's worth.
And no insurer will cover ulcer related things now .
You won't lose anything by shopping around for a cheaper policy .

 

[Sandstone1]

Re ulcer treatment you will be covered for 12 months from start of treatment with the insurer you are with now. So if she is still having treatment at the moment you may be better staying with them for another year.

 

[Dexter]

Colic isnt usually covered after ulcer treatment sadly

 

[AandK]

Colic isnt usually covered after ulcer treatment sadly

This was my experience, horse had ulcers last year. The exclusion on this years policy is for the entire digestive system.

 

[moosea]

My mare's insurance will soon be ending/due for renewal, if I stay with current insurance company it will be going up by about £200 for the year.

I claimed last year for ulcer treatment, presumably I will not be able to claim for anything ulcer related again and this is probably why the yearly cost is increasing.

The document reads that she will not be insured for 'Any incident, illness, injury or disease that manifested, was present, or had been previously diagnosed in the horse before the start of your policy.' Does this mean before renewal, or before I originally took out the policy a year ago?

Also, she was originally insured for her purchase price, which imo was probably quite overpriced (purchased during covid horse price madness)...do I re-insure her for what I *think* she is worth now, vs. what I paid for her a year ago?

I am mostly wanting to re-insure to cover myself for anything that could rack up vet bills quickly...colic, freak accident/injury requiring surgery or long term rehab. E.g. all of the unthinkable things that *touch wood* will hopefully never happen.

I'm just mulling over whether to shop around and see if I can get a cheaper deal, or will I always be paying more now that my horse has ulcer treatment on her history? Would appreciate thoughts from anyone else who has been through a similar thing, thank you

You should probably ring your insurance and confirm with them what is and isn't covered.

Also check that , in the event of you losing your horse, the insurance will pay purchase price as many will cover purchase price OR market value - whichever is lower.

Also don't forget that simple things can rack up big bills. A cut hock that gets infected and needs surgery to flush the joint etc. isn't cheap.

 

[ITPersonnage]

One option that might be more affordable is Catastrophe cover. I have taken this out as my mare has so many exclusions and the premiums were extortionate but you have to be able to cover non-external injury type vets fees yourself.

 

[Miss_Millie]

Thanks everyone, this has been extremely helpful.

 

[Birker2020]

Re ulcer treatment you will be covered for 12 months from start of treatment with the insurer you are with now. So if she is still having treatment at the moment you may be better staying with them for another year.

I think even if you swap insurance you would still be covered. Your not legally obliged to stop with them part way through a claim. Or are you?