Rocketing insurance costs!!!!

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jaynec

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I've just got my renewal costs through for my 19 year old mare, that I've had since a 5 year old. Last year was 353, including £5k vets fees and £250 excess. This year, £605!!!! Her claims history isn't too bad, although we are halfway through a tendon injury claim. Same cover for vets fees. Is this normal? Do I have to put up with this due to her age??
 
Yes, I'd say so. Who are you with?

I never bothered to insure my older horse, not worth it. I'd already claimed for arthritis and it was excluded so that left basically soft tissue damage (would likely require box rest which I wasn't willing to do for a big, older horse...would have just chucked out in the field for a year) and/or colic. Wasn't putting an 18yo through surgery so figured I'd just go for accidental visible injury. £1000 worth of cover for £100pa.
 
I'm with SEIB and they've been pretty good. I'm tempted to just bank the money, but I'm a little worried about possible colic incidents without insurance cover. At what age does vets fees stop being covered?
 
Depends on your insurer. I think Petplan will cover up to 20 or 25 won't they? I was with Amtrust (still am, for the horse I have now) and they called your horse a veteran at age 16 I think and IIRC would stop vet fees cover at 19.
 
jaynec said:
I've just got my renewal costs through for my 19 year old mare, that I've had since a 5 year old. Last year was 353, including £5k vets fees and £250 excess. This year, £605!!!! Her claims history isn't too bad, although we are halfway through a tendon injury claim. Same cover for vets fees. Is this normal? Do I have to put up with this due to her age??
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Check if your tack is covered. If it is does it have to be in a mortice locked room with an alarm (which is what most insurance companies insist on these days). If it does take it off your policy if you don't have the above.

Reduce the value of your horse. You wouldn't get much market value anyway due to her age.

Finally if you can pay it in one go as that will reduce your premium slightly as you have to pay more for DD or SO I believe.

Don't be tempted to reduce your liability or your legal cover (if you have this on your policy) - in the event of a third party claim you could find yourself in serious hot water. This happened to me with a motor claim many years ago - don't risk it :mad:
 
My renewal price for my mare was pretty silly too so I decided not to bother with insurance for her. I made the decision that I wouldn't put her through major surgery as she is the stressy type and wouldn't cope with being on box rest etc I have had a couple of vet bills since and paid them upfront. I do think insurance is a big farce, not just horse insurance but all insurance. Youre better off putting some money away incase of emergencies.
 
jaynec I WISH my insurance was that cheap!!! My boy is 17, i'm with Petplan and I pay £85 per month, including tack cover (YO did allow me to fit a mortice deadlock so I am covered)... without tack it was only marginally cheaper. He has had some expensive claims in the past 4 years but only exclusions are front legs (tendons and ligaments), lami and cushings so there is just soo much else that could happen to him that I cannot risk not insuring him!
 
Pasha said:
jaynec I WISH my insurance was that cheap!!! My boy is 17, i'm with Petplan and I pay £85 per month, including tack cover (YO did allow me to fit a mortice deadlock so I am covered)... without tack it was only marginally cheaper. He has had some expensive claims in the past 4 years but only exclusions are front legs (tendons and ligaments), lami and cushings so there is just soo much else that could happen to him that I cannot risk not insuring him!
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Fliping heck and I thought I was hard done by paying £68 per month for a 16 year old!!!
 
Blimey!!! Sounds like that price isn't too bad then. My tack isn't covered as I take it indoors and I'd pay in one go, so I think it's as low as possible :( she's only excluded for tendons and ligaments in hind legs, due to current sdft injury that is 3 months into rehab, so I'd better just cough up and pay it . Thanks for feedback; very helpful!
 
When I was ringing round recently looking for insurance for a new horse, I got the premium right down but opting for a higher excess.

I ended up using Julie Andrews as a broker and she was very helpful in getting the best deal and how to tweak policies.
 
After much deliberation I dropped insurance on my horses last October.
I could only insure 3 of the 4 as 4th is 25years old.
The other 3 with value reduced to £1500 each vets of £5,000 excess £175 no loss of use the renewal was £130 per month .
I put the tack on the house insurance as it is kept in the house for an extra £20 per year.
I took out BHS gold for both myself and my husband which covers all our horses handled by us for 3rd party. Less than £100 annually
They are kept at home so no coming and going of other horses.
In the year I have paid 2 vets bills one of £59 and one of £62 the later being on the one I didn't have insurance on anyway.
So this year has cost me £179 instead of £1,660 .Put the rest away just in case.
It also means I am in control of what treatments the horses are given and it is my decision and mine alone whether a horse is pts rather than embarking on expensive treatment because the insurance demands it.
I would never let a horse suffer and sometimes the kinder decision on an older horse is not surgical intervention(just my personal opinion.)
 
horselib said:
It also means I am in control of what treatments the horses are given and it is my decision and mine alone whether a horse is pts rather than embarking on expensive treatment because the insurance demands it.
I would never let a horse suffer and sometimes the kinder decision on an older horse is not surgical intervention(just my personal opinion.)
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The owner is always in control! If my horse must have it, he has it and I then claim afterwards. If the insurance co. won't cover it then so be it but it wouldn't effect my decision on what treatment my horse should have.

The only exception to this would be diagnostic treatment that was a 'nice to have' in my opinion.

I would never take into consideration whether or not I would be paid out the horses value before deciding to PTS or treat further and I am afraid I do not understand those that do as my horse is my pet and my friend! He is not an object like my car that I expect to be replaced!
 
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