cyberhorse
Well-Known Member
Thanks for all the ideas and views. So far looking to change companies has new companies wanting 5* vetting on both horses so would cost a fair bit to change (that's if they'd even pass anyhow neither have had a full 5* one in the past). From what you guys have said I think the vet insurance which is the bulk of the expense needs to go. The loss of horse on the cheaper one can go as we don't have much money in him despite the fact he is showing some serious promise. That leaves loss of horse on one (£132.48 for £3K payout) and LOH (£242.88 for £5K) and LOU (£306 for £4k) on the other.
The reason for the LOU on one horse is that he is an extremely well bred ex-BSJA horse with low mileage due to riders circumstances rather than any past injury etc. He was virtually a grade B by 7yrs old and then did nothing much, ending up with a novice rider who got him stopping. I insured him for what I actually paid (as a non-jumper) rather than what he is now really worth (back into his jumping and really honest after a lot of work and a long road). My friends who are pro-Sjers think I'd be lucky to see change from five figures if I had to go out and replace him like-for-like. So the LOU was half towards a new competition horse if I can afford a bit more at the time, or one of their good prospects they'd let me have for the insurance payout if broke as they'd feel sorry for me! However these thoughts were before we got a second horse.
The second horse was picked up cheaply at 4yrs old as a very gangly, dopey, clumsy, iffy bet (gave him a shot as he has clover hill lines). He is now a 6yr old and my OH just potters about on him. However last month we loose jumped him out of curiosity and suddenly out of nowhere he is flying over 1.35 parallels with very little effort and has occasionally started doing perfect flying changes when my OH gets him on the wrong lead so I am starting to wonder if I have seriously underestimated him and he effectively could be my LOU insurance? Either by keeping to compete myself or competing with a pro to fill his card a bit so I can afford to swap for something else of decent value a bit more my size/style.
In summary I think we have more options now than we did, so NFU can't have us over a barrel so much. Putting away £1700 a year would hopefully balance out vet fees and if we are lucky and carry on with none it might give me a good start to replace my horse when he needs retiring from competition. If we hit unlucky I could shuffle credit cards, sell the wagon, or even the second horse (horse value plus £500 a month less livery helps with bills). I like the idea of premium bonds so will look into that, as interest rates on savings are not that great.
Thanks all, really helped me think it out more clearly as to what the heck I have actually been paying for!
The reason for the LOU on one horse is that he is an extremely well bred ex-BSJA horse with low mileage due to riders circumstances rather than any past injury etc. He was virtually a grade B by 7yrs old and then did nothing much, ending up with a novice rider who got him stopping. I insured him for what I actually paid (as a non-jumper) rather than what he is now really worth (back into his jumping and really honest after a lot of work and a long road). My friends who are pro-Sjers think I'd be lucky to see change from five figures if I had to go out and replace him like-for-like. So the LOU was half towards a new competition horse if I can afford a bit more at the time, or one of their good prospects they'd let me have for the insurance payout if broke as they'd feel sorry for me! However these thoughts were before we got a second horse.
The second horse was picked up cheaply at 4yrs old as a very gangly, dopey, clumsy, iffy bet (gave him a shot as he has clover hill lines). He is now a 6yr old and my OH just potters about on him. However last month we loose jumped him out of curiosity and suddenly out of nowhere he is flying over 1.35 parallels with very little effort and has occasionally started doing perfect flying changes when my OH gets him on the wrong lead so I am starting to wonder if I have seriously underestimated him and he effectively could be my LOU insurance? Either by keeping to compete myself or competing with a pro to fill his card a bit so I can afford to swap for something else of decent value a bit more my size/style.
In summary I think we have more options now than we did, so NFU can't have us over a barrel so much. Putting away £1700 a year would hopefully balance out vet fees and if we are lucky and carry on with none it might give me a good start to replace my horse when he needs retiring from competition. If we hit unlucky I could shuffle credit cards, sell the wagon, or even the second horse (horse value plus £500 a month less livery helps with bills). I like the idea of premium bonds so will look into that, as interest rates on savings are not that great.
Thanks all, really helped me think it out more clearly as to what the heck I have actually been paying for!
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