Sorry, another insurance question (premium increase)

[Muddywellies]

Just had my renewal through (NFU). Its gone up from £95 a month to £112. Yearly premium is £1300 for the year. Horse is only insured for 3k. I have got vet fees cover which makes up £800 of the premium. Obvious solution is to take vets fees cover off, but sods law, as soon as I do that I'll need it. I know everyone's premiums have shot up so what have others done ?

 

[BallyRoanBaubles]

Is there anything else you could take off?

 

[Muddywellies]

Is there anything else you could take off?

Tbh nothing that would make much difference. And I don't really want to take saddlery off and have it not covered.

 

[poiuytrewq]

I’ve switched back to Emporium.
They were half the price of my renewal quote In November.
I’ve been with them for previous horses and had big claims, several of. All paid so I’m happy that I have decent cover.

 

[Bobthecob15]

My NFU didn’t increase at all and I had one £400 claim this year. I expected it would but perhaps I was lucky?! Is it worth ringing them and discussing? Emporium seems to have a minimum claim value of £1000 which put me off…also I think they expect you to pay for something like 10% of each claim? I thought NFU was better value in our case x

 

[poiuytrewq]

My NFU didn’t increase at all and I had one £400 claim this year. I expected it would but perhaps I was lucky?! Is it worth ringing them and discussing? Emporium seems to have a minimum claim value of £1000 which put me off…also I think they expect you to pay for something like 10% of each claim? I thought NFU was better value in our case x

They changed the excess thing, that was why I’d switched but after asking here Barton bounty kindly let me read through her policy and check that I could have a fixed access.
Pretty sure I don’t have a minimum claim either

 

[Bobthecob15]

They changed the excess thing, that was why I’d switched but after asking here Barton bounty kindly let me read through her policy and check that I could have a fixed access.
Pretty sure I don’t have a minimum claim either

Ok I must be mistaken then x

 

[Barton Bounty]

Ok I must be mistaken then x

I think they did change it briefly but lost a lot of customers and have now changed it back.

 

[Barton Bounty]

Ok I must be mistaken then x

Happy to show you mine if you are unsure
I wont change from them now, i think they are super

 

[Bobthecob15]

I think they did change it briefly but lost a lot of customers and have now changed it back.

Ah that does make sense, my friend who uses them said it was the case, that's good that they changed back then!

 

[poiuytrewq]

Ah that does make sense, my friend who uses them said it was the case, that's good that they changed back then!

Yep really good, I think they are a good company now but there was no way i wanted to end up paying 17.5% of my claim on top on the excess, hence shopping round and going elsewhere for a year.
I've also kept my premium low by insuring my horse for a really minimal value. I'm not interested in claiming money back if he dies- In fact last time i was able to do that It only occurred to me about a year later! I solely need third party and vets fees cover.

 

[05jackd]

Have you tried querying this with them? I have several horses insured with the same company. The past two years they have tried to hit me with quite hefty rises despite no claims. I queried it and they immediately gave a reduction.

 

[Fire sign]

KBIS wacked my renewal up to nearly 2K last year after NO CLAIMS so I tried to defect to NFU but they wanted me to re vet my horse only 1 year after purchase so I stayed with KBIS and stumped up the cash ….. really re thinking the whole insurance thing now to be honest though …it’s just crazy money .. there has to be a case for just putting the money away in a special fund for vet’s bills ..

 

[Widgeon]

I think they did change it briefly but lost a lot of customers and have now changed it back.

Ah that's good to know, I looked at them a while back but when I worked it out, I'd have needed a whopping big claim before it actually became worth insuring. So I ruled them out.

 

[expanding_horizon]

I have my tack with what was barclays sports insurance (has changed name recently). It is 40-50 a year for 2 saddles and better value and better cover than any horse insurance. It is only £1500 in a locked vehicle though, but full value in a locked building or on the horse if stolen off horse.

I have 3rd party via BD (would have membership anyway)

I have KBIS catastrophe cover for I think it was most recently £400 a year. Best cover in terms of limit and coverage I could find. Many other catastrophe covers dont cover much or have low total limits per year.

So I have saddles, third party and and some vet fee cover for £450 a year (not counting £70 odd BD membership as I dont take it for insurance reasons).

 

[poiuytrewq]

KBIS wacked my renewal up to nearly 2K last year after NO CLAIMS so I tried to defect to NFU but they wanted me to re vet my horse only 1 year after purchase so I stayed with KBIS and stumped up the cash ….. really re thinking the whole insurance thing now to be honest though …it’s just crazy money .. there has to be a case for just putting the money away in a special fund for vet’s bills ..

Absolutely. I’m just a bit nervous incase I get a big bill before putting enough away.
I wish I could go down that route

 

[expanding_horizon]

Absolutely. I’m just a bit nervous incase I get a big bill before putting enough away.
I wish I could go down that route

I'd put a sudden bill on credit card no interest and pay off monthly until paid.

But I've had my horse 3 years, he was initially insured and it no longer cost effective to insure relative to exclusions, except catastrophe insurance.

A new or high risk horse (e.g. in group shod turnout with changing companions) I would always try and insure fully.

 

[Barton Bounty]

Ah that's good to know, I looked at them a while back but when I worked it out, I'd have needed a whopping big claim before it actually became worth insuring. So I ruled them out.

That clause was taken out, actually before my renewal was due, thankfully