Finding the right horse insurance…..Not an easy task!
I have just recently bought a new horse and as he hopefully will keep me going for quite a few years decided that he needed to be insured, so I spent the week leading up to his collection trawling the internet for quotes and this really did open my eyes.
This is despite working or years at equine vets including Simply Horses Vet Clinic and dealing with lots of insurance claims.
The first main thing I found was to “read the small print” and I might add with some companies the small print was VERY small indeed, bring out the magnifying glass. What at first glance seemed a really good deal on further reading really was not! There were lots of exclusions to the policies and I mean lots, some didn’t have fixed excess instead it was a percentage of the claim, which if your horse needed surgery for whatever then I would have ended up with a hefty bill at the end which was the whole point of insuring my horse in the first place, some had limited pay out for diagnostics, some even only paid for the initial vet visit and no follow up treatment what so ever, what good was that?
As veterinary fees have risen there has been an increase in “budget” insurance policies which seem to give the minimum cover, so although the premiums are cheaper this may not be cost effective in the long run.
Most of the larger insurance companies that specialise in equine cover had very easy to navigate sites and I was able to tailor my cover to my needs, what activities I was going to use this new horse for, did I want remedial shoeing covered, complementary treatments and the extra cost of bedding if he had to be on box rest this all went into the mix and of course public liability is included on most of the larger companies which is peace of mind when out hacking if you end up in the awful situation of damaging a vehicle.
Another good pointer is speak to your horsey friends and ask who they use and what it covers, also ask your vet for advise although they are not allowed to “push” a specific company they will tell you the names of companies that offer good cover. There are discounts to pick up too if you make a one off payment instead of monthly, I managed a bit more discount as I already had my vehicle and trailer insured with them there is no harm asking what discounts are to be had.
So in a nutshell
• Can you afford not to insure your horse?
• Cheaper isn’t always best
• Insure for your needs
• Read the small print
• Go with an equine specialist
I learnt a lot from my hours spent looking but it was time well spent, I know I have the best cover for my horse for the activities I intend to do.