Last month we heard from one of the UK’s top horse insurance providers Petplan Equine about insuring our horses and why it is so important. This time we are looking at some specific questions readers have asked as we continue to find out about the benefits of horse insurance.
Hearing from our readers
Can I start insuring my horse from any age?
Insurance companies can differ, but with Petplan Equine, your horse can be insured from 30 days old meaning cover can be provided throughout its whole life. It is important to bear in mind that there will be varying benefits applicable for horses which are younger compared to those who are in their later years. That is why it is important to contact your insurance provider if you are unsure of anything detailed in your policy.
Is my horse covered during transport?
If your horse is insured with Petplan Equine, your horse will be covered for transport. This includes transport to events, training or moving to a new yard as well as transport to your veterinary practice, should your horse require treatment onsite.
If you are travelling to a competition or training, remember it’s important to make sure you have the correct cover for the activity you are taking part in with your horse, as detailed in your policy.
What is a third party?
The simplest way to understand Third Party Liability is to think of the third party as anyone else who has been injured or whose property has been damaged (excluding people you live with and immediate family). The injury or damage must result from the horse that is insured. Your Third Party Liability cover will come into effect if you are found legally responsible. If you believe that an accident or injury could result in a third party claim against you, you should not admit any responsibility, agree to pay any claim or negotiate with any other person. You should contact your insurance company and allow them to take charge of your claim.
What do I need to be aware of when insuring a veteran horse?
Due to improvements in care and veterinary medicine, horses are now living active lives for longer. Many horse insurance companies start veteran cover after horses reach 15 or 16 years of age, even though as most horse owners know, those in their late teens and even into their early twenties, are often still in full work and enjoying life. Therefore, it is important to double check if your horse insurance policy provides cover for both illness and injury for your horse as they get a little older.
The good news is that some insurance providers do insure horses for illness as well as injury into their old age. Petplan Equine will cover horses up to their 25th birthday for illness and injury if they are insured before their 20th birthday on their Horse Insurance policy.
It is important to be aware that veteran policies do not usually cover illness which means that you may not be covered if your horse should need treatment for conditions such as Colic or Cushings disease. Older horses can be more susceptible to illness and injury, so taking out Petplan Equine’s Horse Insurance policy could help you cover a wider range of veterinary bills should the worst happen.
Petplan Equine’s Horse Insurance policy also provides cover for treatment recommended by your vet up to the full Veterinary Fee limit you choose with no additional hidden costs. Some policies have additional limits within the Veterinary Fees benefits for things such as diagnostic investigation and MRI scans. There are also sometimes additional limits for complementary treatment such as physiotherapy and specialist farriery which can impact the level of care you can provide for your horse, especially if they are older. It is important to check the cover provided by your policy for all aspects of veterinary care.
Petplan Equine also offer a fixed excess with no additional percentage to add. This means that you know in advance how much you need to contribute towards the cost of a claim. Some policies have percentage excesses so the amount you need to pay increases with the cost of the claim which can be quite substantial in the event your horse needs extensive treatment or surgery.
If, however, you decide the best course of action for you and your horse is to look more closely at Veteran Insurance you need to make sure you get the most from your policy. Petplan Equine’s Veteran Plan is for horses aged 17 to 40 and it offers a variety of benefits such as:
- Payment following the death of your horse due to injury
- Vet’s fee cover towards treatment for injury
- Personal accident cover
- Optional cover for your saddlery and tack
How does ‘Loss of Use’ work?
Permanent Loss of Use cover will reimburse you for a percentage of your horse’s insured value should they sustain a career ending injury, illness or other issue that makes him permanently unusable for his intended use. Not everyone opts for Loss of Use insurance so it best to speak to your provider to discuss the options that are most suitable for you.
There are many situations when Permanent Loss of Use insurance could be considered. It is particularly important to think what your situation would be if your horse became ill, sustained a career ending injury or other issue which would make him permanently unable to compete at the level that you originally purchased him for and had to be retired early or compete at a lower level.
Permanent Loss of Use cover pays out on the proportionate value the horse has lost. With Petplan Equine you can choose to insure for Permanent Loss of Use up to 60% or 100% of the sum insured. This gives you the option of choosing the level of Loss of Use you can afford if, due to an illness or an injury, you need to make a claim.
Do I need insurance if I have a horse on loan?
If you have full responsibility for a horse while it is on loan to you, where the horse is in your care all the time and you are accountable for its’ welfare, you may want to take out horse insurance. The benefits and peace of mind that insuring your horse provides is crucial, so speak with the owner of the horse and get some more information before you go any further.
It is essential to have a loan agreement so that both the owner and the borrower are protected should any of their circumstances change. The Petplan Equine website has more information about loaning a horse and what to look out for and a loan agreement can be found on the British Horse Society website, should you need help with this.
Your insurer will need to know that you are not the owner of the horse and may require a copy of your agreement. If the horse is already insured with Petplan Equine and has Personal Accident cover included on the policy, it will cover both the owner and the borrower as detailed in the loan agreement. Arrangements can also be made for the borrower to pay for the premium while they are responsible for the horse. If a new policy needs to be taken out with Petplan Equine this can be cancelled at any time, for example when the loan finishes and the borrower just needs to pay for the time the horse is on loan.
To find out more about horse insurance, visit the Petplan Equine website
Terms, conditions and excesses apply. No cover is provided for pre-existing conditions. Petplan Equine is a trading name of Pet Plan Limited and Allianz Insurance Plc.