Types of cover
THIRD PARTY LIABILITY
THIS will cover the horse against claims resulting from injury to other persons or property. For example, if your horse breaks out of a field and causes a car crash then the owners of the car might sue you for damages. Such claims would be covered by a third party public liability policy. This level of insurance is considered absolutely essential.
Some organisations, for example the British Horse Society, offer memberships that provide this cover and it may be available on some domestic policies, but it’s important to check if there are any limitations.
ALL RISKS MORTALITY
ALSO known as accidental death cover, this kind of policy is more limited than many realise. It will only cover the horse against claims for the value of the animal in case of death by severe disease or accident. Policies vary, but in essence the horse is covered only if it is found dead or if it has to be humanely destroyed as an emergency due to an untreatable and incurable condition.
VETERINARY FEE
THIS cover will reimburse the owner for non-routine veterinary treatment following accident or illness to their horse. The amount of cover available for each incident will depend on the various policies, and is designed to provide cover for the unexpected costs of treatment following disease, accident or injury.
Current figures would suggest that it is prudent to insure your horse or pony for £5,000 per incident to cover major treatment (although there is no upward limit on potential cost, and even this figure may prove insufficient). Limited cover for only a few hundred pounds or even £1,000 to £2,000 will not, in the event of a more serious condition such as colic surgery, provide sufficient cover. Most insurers put an exclusion on any new policy for any condition after a year of claims.
SO-CALLED CATASTROPHIC VET FEES
THIS is insurance against severe and potentially expensive vet fees, usually between £500 and £5,000. It has a considerably higher excess to pay, however it does lower your premium.
LOSS OF USE
THIS cover provides you for reimbursement of your loss if your horse is permanently unable to perform its stated insured use following accident, illness or disease. It is important that you inform the company exactly what activities you will be doing with your horse.
A horse with a freeze-mark of a white “L” within a circle is an animal that has been the subject of a loss of use claim; the brand having been stipulated by the insurer so that it can be positively identified.