OMG had insurance quote for new horse.

S

SALLYT

Well-Known Member
Joined
10 January 2008
Messages
432
Visit site
Gulp, he's nothing special and because he's cost me more money than my old old but still less than 6K I went for loss of use and the usual vets fee's , personal liability etc . A quote of £766.

I'm with NFU for my old horse and whilst I know they are good, its still a chunk of money to pay out. I even asked if I could raise the excess's to bring down the premium but was told that this wasn't an option.

Is this expensive or am I out of touch with things?
 
LOU is expernsive, I'm afraid. Can you not bring down the percentage of LOU you have covered? I think my insurance company offers 100%, 75% or 50% and obviously that will bring the premium down.
I could never afford to keep my horse if I had her covered for LOU (which was a bugger because this time last year I could have claimed
frown.gif
)
 
To be honest LOU is so difficult to claim on - takes months (if not years) lots of vet visits and excesses to pay etc before they will pay out, and then you wont get as much as you think - my dressage trainer paid almost £250,000 for her stallion, insured him up to the hilt with LOU (insurance cost her almost £20k) then he had an injury, which also resulted in him being gelded. They paid out £60,000 loss of use, as he can still be ridden (as a light hack). He will never do affiliated dressage (she bought him for GP) he will never be able to cover mares (big loss on income). That was with Petplan.

I never bother with LOU on mine anymore. Someone on here had a good idea the other week - she said all of hers are insured for the minimum 'worth' (£1000 I think) which only costs about £150 a year. This insures them for vet fees etc, and covers tack and third party. Trying to claim the value of your horse following death/theft is difficult and almost impossible in some cases, even with reputable companies.
 
Sounds about right, I got a quote from Petplan to insure my horse for only £2,800 and they quoted me in the seven hundreds!

so you might not of got that much of a bad deal there, NFU are very competetive too.
smile.gif
 
I had a similiar quote from NFU when I bought George, so I knocked of the LOU bit and public liability (as I'm covered by my BHS Gold membership) and the quote came down to £350.
 
[ QUOTE ]

Someone on here had a good idea the other week - she said all of hers are insured for the minimum 'worth' (£1000 I think) which only costs about £150 a year. This insures them for vet fees etc, and covers tack and third party. Trying to claim the value of your horse following death/theft is difficult and almost impossible in some cases, even with reputable companies.

[/ QUOTE ]

That was me I think.

Bruce is insured for £500...meaning I am covered, with low excess, for all of his vet fees/tack/everything, for £18per month.

My friends horse is covered for LOU and she pays £110 per month - he is 14 now, and she has had him since he was 3 - if she had saved that money she would have £14k + for a new ned - whereas her horse will just get old...she is never going to get any of that ££ back....
 
If I had LOU on my horse my premiums would have been nearly 1.5k.

However, there is a good chance that I could have claimed it by now, and they would have paid out......

.....if I could afford it, I would pay for LOU in future, to be honest.
 
I think that is quite good actually - I had to query mine with NFU as i have just had to re-insure with them and they have quoted £575.85 for a horse valued at £4250 and only 12 years old!! That doesn't cover LOU either
tongue.gif
 
I only have the minimum cover for loss of animal so that I can get vet fees cover.

Ideally, I would like to have loss of use (and do when I first buy a new horse), but I can't afford it. Persnally, I think it is best to save the money towards a new horse. Even if you have loss of use, the problem may not be covered, so I think money in the bank is better!
 
Crikey! I thought my quote was bad...mine is insured for £2500 as an eventer, with full vets fees upto 5k, and costs me about £25 a month....
 
[ QUOTE ]

I'm with NFU for my old horse and whilst I know they are good, its still a chunk of money to pay out. I even asked if I could raise the excess's to bring down the premium but was told that this wasn't an option.

[/ QUOTE ]

I've just got off the phone from NFU a few minutes ago asking if they could price match with another quote and they don't do that either! I'm not just wondering whether I should do as others have suggested and reduce the value he's insured for.
 
Yes I see where you are coming from with the LOU part, I'll get a quote without and see how much difference it makes.

But for argument sake I purchased a horse for 5K and wanted it only insuring for 1K to get vets bills covered etc , will the insurance company do this.
 
Yep, they will do that, as they only have to pay the 1k out if the worst should happen so theyve got nothing to loose. I paid more than £2.5k for mine when he was just backed, so hope he woul dhvae gone up in value, but still wont insure for more than 2.5k.
 
Mmmm will call round to their office and have a chat to see what my best options are to reduce the premium a little.
I am pleased with NFU , but need to reduce this by a chunk because everything else is going up except my salary!
 
I am going through a claim at the moment with NFU and so far they have been fantastic! Very very helpful and I can't fault them one bit. They may be a little more than some other companies but as I have also been going through a claim for my car (not my fault!) with another LESS THAN helpful insurance company I can only recommend you go with someone that's going to be efficient if you need to make a claim, believe me it makes all the difference if you are in a stressful situation to have someone on the end of the phone that understands the problem and is curtious and knows their stuff.
 
Well I know you are all going to scream but I use e and l and have loss of use I pay £24 month and they have paid out £6000 in the last 2 years.If you stick to basic £2500 valuation then insurance is cheap enough to put the difference away to cover other costs.They maybe slow but they do pay out.Little do they know that there is another big bill coming their way
 
You must log in or register to reply here.
Top