Equine Insurance

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Insurance policies cause some grief for our clients usually because you find our that you are not covered for some risks that you thought were covered, or because of exclusions placed on your policy, or declines to continue the policy at renewal time.

Here is a common example to demonstrate why it is important to select the right policy and insurance company. Your horse becomes lame. The veterinary examination fails to identify a specific cause, mainly because the horse is getting better anyway. You try to claim through your policy. After requesting all the horse’s clinical history for the past 3 years, including previous problems when you used another vet the company eventually pays up. Beware though if there is some mention of lameness, which was minor but never disclosed to the insurance company when they may disclaim liability. Now when you come to renew your policy the company places an exclusion clause on any injury to ANY of your horse’s legs, despite the fact that there has not been any further lameness in the months since the episode. I agree with you that this is unreasonable. So you try to reinsure with another company, only to find they are less keen to do business with you, as there is a history of an undetermined lameness that has resulted in exclusions!

If you had insured your horse with a reputable company in the first place, your claim would have been settled quickly and without exclusions being imposed. So many issues could have been avoided by making the correct decision at the outset. What seems the cheapest option is not necessarily the best choice.

How do you choose correctly in this minefield? Recent legislation under the Financial Services Act has imposed restrictions on independent vets offering advice about insurance policies. However you can take comfort that the policy prospectuses that we have at the surgery are from companies that we have faith in. Also by speaking to one of the vets you may be able to glean further information off the record.

 

This information is provided for information purposes to our registered clients. It is the individual opinion of veterinary surgeons within the practice. It should not be relied upon as an alternative to a clinical examination and diagnosis by a veterinary surgeon. If in any doubt please contact the practice for further advice.

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