NFU

AdorableAlice

AdorableAlice

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The old boy's insurance renewal landed on the mat today.

He is 20 on 1st May and has been insured for the minimum value plus vet cover for a while now. He was a high value show horse in the past and the NFU have looked after him admirably for years and to be fair, he has emptied their bank account over the years.

They are getting thier own back now, £985 renewal premium.

I have declined and put the money in his tin. He would not be subjected to colic surgery at his age. That was some renewal fee !
 
Blimey, that's quite a premium!! Especially as one would assume there are a fair few exclusions anyway if you've claimed a fair bit. That suggests NFU were not looking for you to renew your policy.
 
ladyt25 said:
Blimey, that's quite a premium!! Especially as one would assume there are a fair few exclusions anyway if you've claimed a fair bit. That suggests NFU were not looking for you to renew your policy.
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I think the NFU have wanted out of horses for a good while, which is a shame because they have a good reputation and have certainly looked after all of my horses very well over many many years.
 
Well, horse insurance makes no money at all - £300 average premium, £1500 average claim!

NFU do it as a side line, like most companies do really and, once they get in a bit of strife they start hiking up premiums. Then, a while later they'll start discounting premiums again. They made huge losses last year so I imagine horse insurance isn't going to be one of their priorities and, as a result they're going to want to get rid of those policies losing them money.
 
NFU have been brilliant to us over the years. Just opened a claim as my oldie was PTS yesterday after an accident.
 
So sorry to read your post Zebedee.
I use NFU, but with our older mares used to insure for 3rd party only, just in case they did escape and cause an accident or similar.

As you say there comes a time when you decide, you would not put your horse through surgery anyway.
 
Got my renewal last month from nfu direct - it was 650. 11 year old tb with zero claims. Huge increase. ESP when kbis and seib both came in at 400. I rang nfu twice and there was nothing they could do. So I lapsed the policy - friend who competes same sport as me had her renewal - it was 450. I rang the local branch who did a new quote with exact same details and gave me 450.

I'm so cross with nfu, but the personal accident is great with them and includes teeth. And they are apparently good to pay out.

I'm very divided about what to do.
 
travelmad said:
Got my renewal last month from nfu direct - it was 650. 11 year old tb with zero claims. Huge increase. ESP when kbis and seib both came in at 400. I rang nfu twice and there was nothing they could do. So I lapsed the policy - friend who competes same sport as me had her renewal - it was 450. I rang the local branch who did a new quote with exact same details and gave me 450.

I'm so cross with nfu, but the personal accident is great with them and includes teeth. And they are apparently good to pay out.

I'm very divided about what to do.
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This happens alot with insurance. If you let your policy lapse & then contact them for a quote you will very often get a cheaper rate as you are then classed as a 'new client' & eligible for new client discount. Ridiculous I know but it does happen. I had a policy lapse, not intentially, contacted the insurance company & got a quote & it was cheaper. I actually pointed out that I'd been quoted £? for a renewal & the new quote was lower but they didn't care & let me reinsure at the newer discounted rate. :)
 
The NFU has never let me down in 30 years of business with them and they certainly made a loss with my horses.

Interestingly they loaded the premium cost hugely when I tried to insure my filly foal in 2011. They were £300 more than KBIS for an 12 week old ID foal. On questioning them the broker said the price reflected past claims, which to me, seems unfair and suggests I don't look after them well.

I cannot see the risk comparison between an teenage competition horse and a foal still on it's mum. I am convinced they just did not want my business anymore.
 
The were fab with me when my lad was PTS after a kick in the field broke his olecronon but when some months later I bought my current horse, they quoted me a crazy premium because they'd paid out a lot for the olecronon before the RVC admitted defeat. I understand this but simply couldn't afford the quote so switched to SEIB who aren't as good, IMO and they have placed bonkers exclusions on his policy.

Horse insurance just can't pay out for companies. :confused:

Zebedee, sorry to hear about your horse :(
 
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