Equine Matters Spring 2019

09 Equine Matters Spring 2019 ‘It is important to shop around and look at different policies. Insurance brokers and agents can be especially useful if you have a complex situation.’ What to look out for when choosing your policy l Fixed and variable excess l Limit per condition l Exclusions l Company reviews l Complementary treatments, such as farrier and physiotherapy services It is important to shop around and look at different policies. Insurance brokers and agents can be especially useful if you have a complex situation. The most important thing to check is the maximum limit of cover per condition . If you want the policy to cover surgical conditions such as colic, a minimum limit of £5,000-£7,000 is advisable. It is prudent to check the excess on a policy too; this being the amount you pay in the event of you making a claim. There can be fixed and variable excesses. A fixed excess is an amount, usually around £150, which is payable per condition, while a variable excess is a percentage of the final claim. While policies with higher excesses are cheaper, you will need to ensure that you are able to afford them. In particular with a variable excess, how much would you need to pay if you had to make a maximum claim? Some policies may only pay for a percentage of livery fees should your horse require a stay in a hospital. Other things to look for in a policy are cover for 'extra' or 'complementary' treatments such as remedial farriery. Additionally check if there are any general exclusions identified within the policy such as dentistry or behavioural issues. Once you have found a policy you are happy with, you need to be honest and open with the insurers about your horse, specifically what it will be used for and if the vet has ever diagnosed any disease or condition, irrespective of severity. If you are selective with the information you provide, you may find that any future claims will be unsuccessful, leaving you to cover the bill. Some companies will request a vetting prior to insuring your horse and for high value horses, X-rays of joints may be required. Finally before taking out a policy, have a read of the small print. While this can be tedious, it is better to see what exactly the policy does and does not cover before committing to it. How do I select an insurance company and the correct policy?