Sorry, another insurance question (premium increase)

M

Muddywellies

Well-Known Member
Joined
22 July 2007
Messages
1,927
Visit site
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 ?
 
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
 
Trakky14 said:
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
Click to expand...
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
 
Trakky14 said:
Ah that does make sense, my friend who uses them said it was the case, that's good that they changed back then!
Click to expand...
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.
 
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.
 
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 ..
 
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).
 
Fire sign said:
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 ..
Click to expand...
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
 
poiuytrewq said:
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
Click to expand...
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.
 
You must log in or register to reply here.
Top