As a bare minimum, horse owners should have public liability insurance to offer protection against a claim made by a third party for injury or property damage caused by their horse. Gold Membership of the British Horse Society offers public liability cover with an indemnity limit of £10,000,000 as one of its benefits. The membership also provides personal accident cover for the member only, with a limit of £15,000. This is an option well worth considering if you’ve decided against obtaining any other type of cover.
Veterans and youngsters are often overlooked for insurance, but having cover in place in case the worst happens is important.
Young horses can be accident prone, and ensuring that you can afford the best possible veterinary treatment if they are injured or become ill can have a great influence on the prognosis and their future potential.
Kathy Tansey of Shearwater explains: “Youngsters can usually be insured for death from 24 hours old and vet fees can usually be added at between 30 days and 90 days, though both of these will vary from company to company, so always check your policy.”
There is no point insuring a foal for more than it is worth as the pay-out if it dies will only be for market value, suggests Nicky Mackenzie of SEIB.
“It is difficult valuing a young horse, but take into consideration the stud fees, and choose a realistic figure that would be forthcoming if the animal was sold,” she says.
“As the youngster gets older it’s likely that its value will increase, and the insurance company will agree to increase the sum insured as long as it is possible to validate the reason. For example, if a two-year-old has been shown successfully in-hand it may be worth more than when it was a foal.”
Nicky adds: “Insurance will change as an animal is backed and the company needs to be informed; you don’t want to run the risk of having a claim declined because the horse had an accident during an activity for which it was not covered.”
Read more in the current (July) issue of Horse Deals...
Your Email Address
Your Friends Name
Your Friends Email