To insure or not

Discussion in 'Horse and Rider Insurance' started by hutchi, Oct 22, 2008.

  1. hutchi

    hutchi Well-known Member

    What are your views on horse insurance.
    Do you have it? Do you believe it is necessary and if so why?
    I'm looking into having Sunny insured, and I'd love some more insight from REAL people who have their horses insured.
    Please note I know hardly anything about horse insurance so if I've asked a very stupid question please bear with me!
    Thanks in advance :)
     
  2. hutchi

    hutchi Well-known Member

    Also, could some one please explain to me the different types available - I'm so confused by it all!
     
  3. maxntaz

    maxntaz Well-known Member

    I am in the throws of sorting insurance out for my boy. I dont have the details with me, but im going through elders insurance (i work for elders). They have just started doing horse insurance again. I used to use Wallace livestock insurance, they were brilliant. Im only changing to elders for convenience as all my home, contents, car etc is with them..
     
  4. hutchi

    hutchi Well-known Member

    Just realised there is an insurance Section - sorry Mods
     
  5. kiraSpark

    kiraSpark Gold Member

    I personally wouldnt insure a horse unless Id paid a reasonable amount for him/her, something like $10-15,000 or more, because up to then I would just take the risk.

    Ive also heard that the Loss of Use policies are a bit of a rort as it is really subjective what YOU and what THEY consider 'loss of use'. Ie you might consider loss of use not being able to jump him, say, but they might consider if you can sit on your horse while its walking about in the paddock, then thats not loss of use......so they wont pay out.

    But obviously mortality cover is pretty cut and dried, if he died, hes died. :p

    Depends what you go for, really. :)
     
  6. astraia

    astraia Guest

    I insure simply to cover major vet bills (ie. colic surgery). I'm not too worried about loss of use, we would happily keep our boy as a pet. But I agree, it depends how much $$ you have spent.
    Just remember to read the fine print and make full disclosure. For example, you might want to insure your horse for $10,000 because that is what you paid BUT the fine print might say they will only pay market value and if that is less than your purchase price (it is assessed by professional valuers) then that is all you will get back.
     
  7. Oldhack77

    Oldhack77 Gold Member

    I did - but only for the reason the horse is worth over a certain amount....... he is the first horse I have insured. At the time I weighed up how much he was worth in one hand and how much years of premiums would be..... I found it worth while in this case
     
  8. hutchi

    hutchi Well-known Member

    On the Petplan cover, if I simply want cover for vet bills, how do I select that?
     
  9. astraia

    astraia Guest

    I'm not sure you can. I have mortality and vet insurance. If the mortality insurance is not that important to you (ie. if the horse is not worth that much on paper) then keep the mortality value low and your premiums will be lower. For vet bills you have a choice of low or high excess (either $1000 per claim or $200) this makes a BIG difference to your premium.
     
  10. hutchi

    hutchi Well-known Member

    No the horse is worth a fair bit - is that included?
    Oh gosh I think I might have to call the helpline :confused:
     
  11. astraia

    astraia Guest

    You can do it all online. You can follow the prompts and tick the different sections and it gives you an estimate of your premium.
     
  12. Que Sera Sera

    Que Sera Sera Well-known Member

    Yeah dont bother calling Petplan. I was on hold for 25 minutes before I hung up. The whole time I was being told by a lovely automated voice that my call mattered and I was FIRST in the queue.
     
  13. Its Party Time

    Its Party Time Well-known Member

    Mine are Insured with AIS they advertise on the back of Hoofbeats or horsedeals I think.
    I found there premiums to be better than Petplan and seem to include more.
    If you have a gelding and want to insure over a specified amount ($5,000) you have to get a vet check done at your own cost and I think this is the case for most Insurers. With the Loss of Use you must specify what discipline you compete in and they will cover up to the amount insured if the horse can no longer compete in that discipline.

    Mine cost me from $250 through to about $450 per year.:D
     
  14. valdez

    valdez Well-known Member

    I use petplan, My premium is very reasonable and includes public liability, HIGH excess vet cover (i can afford to cover $1000 at a time so chose this option). Loss of use and obviously the cost of the horse all for under $600. The horse is insured in the $10k to 15K bracket. Hope that helps a bit.
     
  15. Cav

    Cav Gold Member

    I am with Petplan and it costs me $200 a year to have my pony insured for over $5000 (wont say exactly how much) for death which covers death by anything. If he dies I get my money.

    I figured paying the extra $400 (plus the vet bill for health/soundness check) to insure him for loss of use wasnt worth it as he is a young fit healthy pony and the chances of something happening to him are remote.

    We have previously had a Warmblood that we had insured through a different agency for a LOT of money. She had to be assessed for the insurance company by a judge at the Warmblood Show one year and then she ended up sick and insurance company said either way we get the vet bill but if we didnt treat her as recommended by vets and she died we wouldn't get the insurance money for her either due to the percentage of chance of survival the vets gave her. Catch 22!!
     
  16. QH Rulz

    QH Rulz Well-known Member

    hi i insure with Logans... they are very HELPFUL i have both my horses insured (both are in the 15 to 25K bracket)...
    i have my mare with just morality insurance... as if i cant ride her i can bred from her....
    and my gelding has morality and 2000 worth of vet cover... in total for over 40,000 worth of horses plus 2000 vet cover it costs me $1980 per year... (i just paid it yesterday)

    they require vet certificate to be updated every year... aswell

    I made a claim last year on my gelding.. 1500 vet fees... and i got it all back within 2 months...
    I am very happy with Logans
     
    Last edited: Oct 23, 2008
  17. Que Sera Sera

    Que Sera Sera Well-known Member

    Well I finally got through to PetPlan. Explained that I was getting a quote from them with some trepidation as I had heard their accounts and admin department where lacking in service which was of great concern to me.

    I spoke to the girl in the Equine Department which has a staff of 1. She has only been there for 2 weeks. It seems to be a case of they have had a rapid rise in customers and are now struggling to find staff to keep up with the work coming through.

    But anyway. For 10k 60% loss of use its ~800 per year and 10k 100% loss of use ~$1000 per year. For 10k death/theft only its ~ $350 per year. I didnt ask about vet fee insurance.
     
  18. hutchi

    hutchi Well-known Member

    Pick and Mix Plan and Veteran Plan - what have you all gone with? Is there a huge difference?
     
  19. Que Sera Sera

    Que Sera Sera Well-known Member

    Oh I forgot to add. I have been given the direct # and email address for the equine lady at petplan. I have been told to pass it on. Hope thats OK mods.

    Here you go, pasted from the email she sent me.......................

    If you have any concerns or questions feel free to call me on my direct line (03) 9339 3314 or email (and pass it on to any friends who would like to contact me!)



    Thank you very much for the chat and will pass it on to my supervisor. My apoligies for the wait!



    Have a great day.



    Kind Regards,



    Kim Sheridan

    Equine Account Executive

    Petplan Australasia

    Phone: 1300 738 225

    Fax: (03) 9339 3377

    Petplan Insurance Australia
     
  20. hutchi

    hutchi Well-known Member

    I just called their equine number that was online, and only had to wait for about 5 seconds, and then had a really good chat with a very helpful lady! She knew her stuff!
    I must have gotten lucky *#)
     

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