self-insure weanling?

daydreamer

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Joined
15 January 2006
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615
Location
Colchester, Essex
Hi,

I've had a look but it doesn't seem like this has been asked in a while. Does anyone self-insure/not insure their youngstock? I am buying a well bred weanling for £3500 so the insurance premiums for vets fees are pretty expensive. If i decrease his value on the quote the premium comes down but I wonder if this would stop the company paying out?

I can afford the insurance but wonder if I would be better off just ringfencing the money in a savings account? I have £7K+ I could put my hands on at short notice and could find some more pretty quickly. I have BHS gold membership so have public liability and personal accident insurance through them.

Any advice?

Thanks
 

FestiveFuzz

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5 January 2008
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3,812
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Surrey
I've just been through this with my boy and got a pretty competitive quote from SEIB in the end. Having racked up £10k+ bills with my last youngster in the first few months of having her there was no way I was going to risk it with a weanling, especially as they do have a habit of being self-harmers.
 

daydreamer

Well-Known Member
Joined
15 January 2006
Messages
615
Location
Colchester, Essex
yes I can see £10K would make you want to insure! Can I ask what that was for?? I tried SEIB online but it came back that there were no insurers that matched!! I may have to ring them.
 

TheMule

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14 October 2009
Messages
2,792
For vets fees I just insure for £1000
My yearling is insured after I lost his (uninsured) sister with a 6k bill. That hurt emotionally and financially
 

FestiveFuzz

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Joined
5 January 2008
Messages
3,812
Location
Surrey
yes I can see £10K would make you want to insure! Can I ask what that was for?? I tried SEIB online but it came back that there were no insurers that matched!! I may have to ring them.
We were really unlucky, it was an acute DDFT tear followed by an SDFT tear in the same leg both of which occurred in the field (the second one whilst on field rest). In hindsight the vet thinks it may have been congenital. The only thing that kept me sane was knowing we had the insurance to try everything possible.

I had to ring them as it flagged when I said yes to having claimed/lost a horse in the last 3 years but they were super helpful and it didn't impact our premium at all. They were by far the most competitively priced for the cover we get. The insurer is XL Catlin if that helps at all.
 

paddy555

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Joined
23 December 2010
Messages
3,395
Hi,

I've had a look but it doesn't seem like this has been asked in a while. Does anyone self-insure/not insure their youngstock? I am buying a well bred weanling for £3500 so the insurance premiums for vets fees are pretty expensive. If i decrease his value on the quote the premium comes down but I wonder if this would stop the company paying out?

I can afford the insurance but wonder if I would be better off just ringfencing the money in a savings account? I have £7K+ I could put my hands on at short notice and could find some more pretty quickly. I have BHS gold membership so have public liability and personal accident insurance through them.

Any advice?

Thanks
I was in a similar position with a weanling exactly the same price. None of mine are insured, there are too many and I self insure. He ended up in horse hospital at age 9 months and the bill came to over 2k. I had the means to pay and would have paid whatever it cost. Things moved quickly and I felt an advantage was that I was in charge and could say "yes" to whatever treatment I wanted immediately. I just put it down to the fact that many of my other horses had barely seen a vet in years and the youngster was the one who was going to even that out. He is still not insured and if I got another of equal value I would still self insure. I have separate PL insurance.
 
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