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Specific Types of Cover
Third Party Insurance - This will cover the horse against claims resulting from injury to other persons or property. For example, if your horse breaks out of a field and causes a car crash or if your pony kicks a child in the livery yard at which he is stabled then the owners of the car or the parents of the child might sue you for damages. If this is the case these claims would be covered by a third party insurance policy. This level of insurance is considered absolutely essential for most animal owners and may well be provided by your own household insurance cover.
All Risks Mortality Also known as Accidental Death. - This covers the horse against claims for the value of the individual in case of death by severe disease or accident. It is a limited form of insurance and does not normally, for example, cover the loss of a horse after prolonged treatment such as navicular disease or arthritis. Policies vary but in essence the horse in only covered if it is found dead or it if has to be humanely destroyed as a matter of emergency due to an excessive and incurable condition such as a broken leg or incurable colic. Owners must be aware that this is a limited form of insurance with many exclusions. Many insurance companies will require a 2-stage vetting certificate for this.
Veterinary Fee Cover - This cover will reimburse the owner for non-routine veterinary treatment following accident or illness to their horse. The amount of cover available for each incident will depend on the various polices and is designed to provide cover for the unexpected costs of treatment following disease, accident or injury. Owners should ensure that the total available for any one incident is sufficient to cover the worst possible scenario. Current figures would suggest that it is prudent to insure your horse or pony for up to £5,000 per incident to cover all forms of major treatment available. Limited cover for only a few hundred pounds or even £1-2,000 will not, in the event of a more serious condition, such as colic surgery, provide the cover that you hope for. Taking out such cover enables your horse to benefit from the major advances in veterinary medicine and surgery that have been made over the last few decades. It is not uncommon following an injury for the insurance company to put an exclusion on any new insurance policy for that condition.
So called Catastrophic Vet Fees This is insurance against severe and potentially expensive vet fees, usually between £500 - £5,000 usually. It has a considerably higher excess to pay however it does considerably lower your premium.
Loss of Use Cover This cover provides you for reimbursement of your loss if your horse is no longer able to perform its stated insured use following accident, illness or disease. Strictly speaking, there are at least two forms of loss of use cover currently available and owners should be clear in their own mind which they require before they take out an insurance policy. The cheaper form does not provide the same level of cover as the more comprehensive type of policy. The full loss of use cover provides protection against the effects of any accident, illness or disease leading to your horse becoming permanently unable to carry out the previously agreed roles for which you have insured the horse. It is important that when you open your policy you inform the company exactly what activities you will be doing with your horse. These policies will offer you varying amounts of his total insured value if the horse is no longer able to, for example, event but may still be able to hack satisfactorily. The limited f
Horse Insurance | Accident Insurance Horse | Equestrian Insurance | Equine Insurance
Understanding horse insurance
These notes have been prepared by us to assist owners in understanding the various types of insurance cover that are available for their horses. Purpose of Insurance The old adage "don`t purchase a horse unless you can afford the loss and the purchase price" may still be correct but other unforeseen costs may arise. The purchase of any insurance cover is to protect the policyholder against unexpected loss. With horses this loss may take various forms including accidental injury, death, veterinary treatment or injury to third parties. There are many types of policy cover available and these will vary from company to company. As a general rule the owner gets what they pay for and the difference in premiums charged by the insurance usually reflects the different levels of cover. It is, of course, the responsibility of the owner to ensure that the cover that they take out is adequate for their needs. If in doubt they should consult their insurance broker or obtain several quotations and compare the levels of cover and of service offered as well as the price.Specific Types of Cover
Third Party Insurance - This will cover the horse against claims resulting from injury to other persons or property. For example, if your horse breaks out of a field and causes a car crash or if your pony kicks a child in the livery yard at which he is stabled then the owners of the car or the parents of the child might sue you for damages. If this is the case these claims would be covered by a third party insurance policy. This level of insurance is considered absolutely essential for most animal owners and may well be provided by your own household insurance cover.
All Risks Mortality Also known as Accidental Death. - This covers the horse against claims for the value of the individual in case of death by severe disease or accident. It is a limited form of insurance and does not normally, for example, cover the loss of a horse after prolonged treatment such as navicular disease or arthritis. Policies vary but in essence the horse in only covered if it is found dead or it if has to be humanely destroyed as a matter of emergency due to an excessive and incurable condition such as a broken leg or incurable colic. Owners must be aware that this is a limited form of insurance with many exclusions. Many insurance companies will require a 2-stage vetting certificate for this.
Veterinary Fee Cover - This cover will reimburse the owner for non-routine veterinary treatment following accident or illness to their horse. The amount of cover available for each incident will depend on the various polices and is designed to provide cover for the unexpected costs of treatment following disease, accident or injury. Owners should ensure that the total available for any one incident is sufficient to cover the worst possible scenario. Current figures would suggest that it is prudent to insure your horse or pony for up to £5,000 per incident to cover all forms of major treatment available. Limited cover for only a few hundred pounds or even £1-2,000 will not, in the event of a more serious condition, such as colic surgery, provide the cover that you hope for. Taking out such cover enables your horse to benefit from the major advances in veterinary medicine and surgery that have been made over the last few decades. It is not uncommon following an injury for the insurance company to put an exclusion on any new insurance policy for that condition.
So called Catastrophic Vet Fees This is insurance against severe and potentially expensive vet fees, usually between £500 - £5,000 usually. It has a considerably higher excess to pay however it does considerably lower your premium.
Loss of Use Cover This cover provides you for reimbursement of your loss if your horse is no longer able to perform its stated insured use following accident, illness or disease. Strictly speaking, there are at least two forms of loss of use cover currently available and owners should be clear in their own mind which they require before they take out an insurance policy. The cheaper form does not provide the same level of cover as the more comprehensive type of policy. The full loss of use cover provides protection against the effects of any accident, illness or disease leading to your horse becoming permanently unable to carry out the previously agreed roles for which you have insured the horse. It is important that when you open your policy you inform the company exactly what activities you will be doing with your horse. These policies will offer you varying amounts of his total insured value if the horse is no longer able to, for example, event but may still be able to hack satisfactorily. The limited f
Horse Insurance | Accident Insurance Horse | Equestrian Insurance | Equine Insurance
Understanding horse insurance
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Understanding horse insurance
These notes have been prepared by us to assist owners in understanding the various types of insurance cover that are available for their horses. Purpose of Insurance The old adage "don |
|
Understanding Horse Insurance
These notes have been prepared by us to assist owners in understanding the various types of insurance cover that are available for their horses. Purpose of Insurance The old adage "don |
