Frequently Asked Questions – Mature Horse Insurance

Mature Horse Insurance

Why insure your mature horse?: With the amount of time and investment spent in caring for your horse it makes sense to have comprehensive cover in place. Even when your horse has entered its twilight years it is still important to ensure you have the right cover in case something happens. Many older horses still take part in gymkhanas, showjumping and other activities; having insurance in place means that you can focus on enjoying these activities with your horse, rather than worrying about such things as unexpected vet’s bills or theft.

Is my horse too old to insure?: Whether your horse has just reached its 15^th birthday, or is much older, you can still insure them through our Mature Horse Insurance. The policy covers horses and ponies from 15 years old with no upper age limit. However there is no cover for illness or disease for horses over 15 years old.

What insurance do you need?: For most owners, insurance for accidental injury, theft and legal liability is important. With an increase in thefts and the rising cost of veterinary fees many owners choose comprehensive policies which cover the above and more.

What is the difference between market value, sum insured and purchase price?: Market value is the price generally paid for a horse of the same age, breed, bloodline, sex and ability. Sum insured is the amount you choose to insure your horse for, this value will be agreed between you and your insurer. Purchase price is the amount you actually paid for your horse. In the event of a claim under death, theft and straying or loss of use, an insurer will always pay the lower amount of the sum insured or market value.

What am I insured for?: This will depend on the benefits you choose when you take out your insurance cover. These will be detailed in your insurance documents. The documents should be read in conjunction with your policy terms and conditions to give you the full details.

What do I have to do if my horse is missing?: You must tell the police as soon as you discover your horse has been stolen or is missing and obtain a Crime Reference Number. Once this has been done the crime reference number and details need passing to the insurance company. You must do everything possible to recover your horse.

Within what period must I claim?: We ask for claim forms to be returned to us within 90 days of the onset of the loss or condition.

How long can I claim for?: Claims for treatment given for an accidental injury provide cover for up to 12 months from the onset of the condition or up to the maximum recoverable limit.

What is a third party?: The first party is the policyholder, the second party is the insurance company and the third party is anyone else who has been injured or whose property has been damaged as a result of the acts or omissions of the insured.

What should I do if anything happens that could result in a third party claim against me?: Most importantly you should not admit any responsibility, agree to pay a claim or negotiate with any other person after any incident. You should contact your insurance company and allow them to take charge of your claim. You must send them any writ, summons or legal documents you receive and allow them to act and reply on your behalf.

Will the insurance company pay if my horse is ridden by someone else?: As long as you have given permission to the person riding the horse and they are aged between 5-65 years, cover will be provided.

I have an existing medical condition. Will this affect my ability to claim?: You are obliged to advise the insurance company of any physical or mental conditions that you have which might affect your policy. The insurer will advise you at the time you take out your policy how your condition might affect a claim.

How do I need to protect my saddlery and tack?: When not in use, saddlery and tack must be kept in a locked building that is totally enclosed and secure. It must be a permanent, substantial structure of brick, stone or timber, with doors secured by 5-lever mortise deadlocks and windows secured by patent window locks. Your saddlery and tack can be stored either at your home address or at the stables, provided the room has the correct security.

Will an insurance company pay for wear and tear?: No, wear and tear will not be covered.

What is an excess?: An excess is the first part of a claim that you pay yourself.