Buying a horse is a major financial investment and should be treated the same way as car or house purchase. For example, one of the first things we do after buying a car is to protect it with suitable insurance, so why shouldn't the same be done with a horse?
With the cost of veterinary care increasing by more than 10% each year, it has never been more imprtant/makes sense to have good quality horse insurance in place to protect yourself and your horse should the unexpected happen.
What does horse insurance cover?
Horse insurance policies vary depending on the insurer/provider, but most comprehensive plans generally include the following benefits for your horse as standard:
- Death or Slaughter – Cover (up to the sum insured or market value - whichever is less) if your animal dies due to an accident, illness, or disease
- Theft or Straying – Cover (up to the sum insured or market value - whichever is less) if your horse is stolen or stays, and is not found within 28 days.
- In addition to these, most providers offer a number of optional benefits that horse owners can add to their policy for greater protection. These can include cover for:
- Personal injury
- Third party damages and costs (public liability)
- Veterinary fees
- Loss of use – i.e. your horse has an accident or illness that prevents it from performing its usual functions.
- Stable damage
- Emergency dental treatment
- Hire charges of a replacement horse
- Insurance for death, theft and legal liability is vital for most horse owners.
Who provides horse insurance?
There are a number of independent horse/equine insurance specialists and large insurance firms that provide all types of insurance for equestrians in the UK. These include:
- Animal Friends Insurance
- Cornish Mutual
- E&L (Equine & Livestock) Insurance
- NFU Mutual
- Shearwater Insurance Brokers
- Stoneways Insurance Services
Things to remember when buying horse insurance
Vet's certificate – To be eligible for cover, insurance companies may ask to see a vetting certificate, depending on the sum insured value of the horse and the level of cover you choose. A certificate from your vet may also be required during the claims process.
Shop around – When it comes to taking out insurance, it pays to shop around. Online price comparison services are a good best place to start as they allow you to compare the top deals on the market to find one the best suits your needs and budget – saving you both time and money.