Understanding Insurance

Although strongly advised, it’s your choice whether to insure your horse or not.

Horse insurance can be a very confusing and whilst we are not allowed to recommend which companies to insure with, we can help guide you. The first thing to decide is -  How much cover do you think you need & what type of policy?
What’s right for one won’t be the same for others so it’s worth considering your finances should the worst occur.

Veterinary Fees - most insurance companies give you the option to take cover for this & these are for non-routine veterinary procedures. The value of vet fee cover per condition depends on your own chosen policy – commonly this is £3000-£5000 per condition.

Excess – Usually policies require an excess to be paid before starting a claim (this amount is different for each company). Some companies have a set amount for their excess where as others require you to pay a percentage of the final cost, so you MUST READ THE SMALL PRINT.

 Exclusions – does your horse have a previous health issue? You must declare this at time of taking out a policy. Insurance companies will request full clinical history when you place a claim with them (incl any previous vets you have used since owning the horse).

 Loss of Use - This provides cover if your horse sustains an injury or a condition that both in the opinion of your vet and the Insurance underwriters vet means that the horse will no longer be able to perform the activity of which the horse is insured as stated on the insurance certificate. This is an option on a lot of policies.

 Veteran Policy – usually do not cover vet fees, only accidental external injuries (all companies are different). Each company has a different age bracket for their veteran cover. 

 Mortality Cover – must be in accordance with BEVA Guidelines for Humane destruction.

 Questions to ask / consider when choosing a company suitable for your horse:

• What is their excess policy? / Is there a fixed or percentage excess?
• Do they split claims or if two conditions were found at the same time is it classed as one claim?
• Do they have a veteran policy? What age does this start?
• What is the period between you taking out the policy and your cover actually starting?
• Do they have a notification period in which you must tell them you plan to claim?
• Do they cover livery fees if your horse has to stay at the vets?
• Are supplements / equipment covered?
• Do you have to notify your insurance company before certain procedures take place (e.g. MRI, Surgery, bone scan)
• What is classed as complimentary therapy– it’s not always what you think e.g. ultrasound/ laser therapy.
• Is dental part of your package? (it’s not standard on all policies)
• How long does your claim last – usually 12 or 15 months.
• Does the company give pre-authorisation for surgery?
• If you use a broker, ask who the company is. It is not always clear if the company is a broker or an insurance company.
• Do they offer lifetime policies?
• Is the amount your covered for per year or per claim.
  
  We are here to help you so if you have any queries at all regarding insurance then do not hesitate to contact our reception and ask to speak to Sharon who deals with all the claims.