Petplan to cover loss of use

Discussion in 'Horse and Rider Insurance' started by Starbe, Aug 20, 2008.

  1. Starbe

    Starbe Well-known Member

    Anyone had any experience with claims for loss of use?

    I am sure it contributes to a large proportion of the cost of my cover, which i dont mind, but wondering peoples experience with this.

    I have her covered for small level eventing, showing, bush rides etc, so apparently if she is deemed not fit for any of these, they will pay her value.

    Any thoughts?
  2. RPS

    RPS Well-known Member

    "The Market Value of Your Horse if an Injury happens or an Illness
    first shows Clinical Signs, during the Period of Insurance"

    It isn't just a case of being deemed not fit, it must be directly from an injury or illness that occurs or shows signs from the date when the insurance was taken out.

    There is also other specific exclusions for loss of use. You need to read the PDS and Policy booklet, if you don't understand get someone to explain it to you. Very important that you understand what you are and aren't covered for.
  3. Starbe

    Starbe Well-known Member

    yeh i no its not just not fit. and ive read all the conditions they have on the website, but not the booklet yet. no douvt the booklet gets sent once you sign up! :) Im sure i could request it. but from what ive read, its what i want. And i will read the book when it comes. Just wondered of anyones actual experiences
  4. Cav

    Cav Gold Member

    To put it simply, if your horse is deemed unrideable/unusable by a vet through injury or illness and its permanent it is classed as "loss of use".
  5. KC Quarter Horses

    KC Quarter Horses Gold Member

    I have 3 horses insured for death & loss of use as showjumpers. they all had to have through vet checks, however if they have an injury that makes them unable to jump again it might mean i only get 80% of their insured worth r less if they are good for other things :)
  6. purplepony

    purplepony Active Member

    I would be very careful with this- the insurer's opions are often very different to ours! Ask a sales consultant to explain this clearly to you.

    From my personal experience with Petplan, in the UK in 2004- the yard I was working on had an advanced eventer who had with the previous owner been shortlisted for the 2000 Olympics, and had been competing at *** level, damaged a tendon in an accident out hacking and did not recover. He was chronically lame and even on bute was hobbling around after months of rest and recovery work. Hence, he was no longer able to compete at any level, let alone at ***. As he was not the type of horse to hang out in the feild and relax (he fretted and lost condition- he loved being in work an on the yard) the decision was made to euthenase him. The insurance company paid out 2000 pounds. Now where would you find a *** eventer for 2000 pounds??
  7. RPS

    RPS Well-known Member

    Insurance companies here are bound by

    1. The Code of Practice and
    2. The General Insurance Code of conduct and
    3. The Insurance Contracts Act 1984

    They can offer or decide what they like( which is often the case ) but if it is not within the scope of the legislation ( developed by the govt and the industry, they won't succeed if challenged ). Problem is not enough people challenge them.

    This is why it is so very important to read and UNDERSTAND what you are paying for and ask questions. If you don't understand ask someone who does and can explain it.
  8. Sallie

    Sallie Well-known Member

    I have used Petplan for 100% loss of use. I also have made a claim and been paid out.

    My vet signed off that the horse which i had insured was unsound and not able to be ridden etc after x-rays a few trips to the vet etc. Alot of paper work involved etc and 4 months later.... Claim settled

    I had a $200 excess and as you keep the horse and its your choice what you do with them ie: keep as paddock freind or have put down etc. They then take of the market value they think the horse is worth. In my case we did neg what market value was and had came to a final agreement and I was paid out. I had the horse in question put down. - Very sad times

    I currently have one of my mares insured for 60% loss of use as a riding horse

    A full vet check was required for both horses.

    I would be very careful for putting down a horse is used for pleasure riding as a horse which is unsound for competing on my be sound enough for pleasure riding.
  9. Starbe

    Starbe Well-known Member

    Thanks for your comments.

    Its not that i dont understand, but that im interested in peoples personal experiences. So keep them coming. :)

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