Horse Insurance

Insurance is a good way to protect yourself from unexpected veterinary bills and to ensure you can always afford the best possible treatment without being restricted by a limited budget.

You will find many different insurance policies available.  However, the vets’ fees protection they offer can vary significantly and some polices do not cover any vets fees at all. When choosing which insurance policy is right for you we strongly advise you seek the advice of a licensed insurance broker.  DO NOT buy on price alone, the cheapest premium may leave you with inadequate cover. You should be aware of what excess you would be required to pay for each claim as this can have bearing on premium costs and whether it is worth claiming for some veterinary fees.  A general explanation of the main sections that make up horse insurance polices is given below. 

Note that the exact details of these sections vary enormously between companies and details should be clarified with the relevant insurance company. This is intended as a guide only.

  • All Risks Mortality – covers the death of your horse as a result of illness, injury or disease including humane destruction by a vet. Please note that the insurance company must be informed before the horse is put to sleep unless the vet determines the horse meets the BEVA guidelines for immediate humane destruction.  This only pays out for the sum the horse is insured for or current market value (whichever is less) and it does not cover vet’s fees.
  • Loss 0f Use – covers the owner if the horse suffers an injury which renders the horse permanently unable to be used for the purpose for which it was insured.  Again this only pays out a percentage of the sum the horse is insured for or the current market value (whichever is less). The percentage paid out should be noted on your certificate. Note that some policies only cover for loss of use due to external injuries and others cover a much wider range of injury and illness.
  • Veterinary Fees – almost all of the insurance companies will require a full vetting certificate to be supplied for this coverage and will not cover any pre-existing conditions. Most have a maximum amount they will pay out per condition and a time frame for which they will pay for this condition before it becomes excluded.  Some diagnostic procedures such as MRI will not be fully covered by some policies so do check with your insurance company before proceeding with any treatments/diagnostics for which you intend to be claiming veterinary fees for.
  • Liabilities – this section varies greatly but generally includes some sort of damages/personal injury coverage should your horse be involved in a public incident.
  • Disposal Costs – most policies have a separate section clarifying what portion if any they will pay towards disposal costs incurred should your horse die.

You should notify your insurance company as soon as your horse displays signs of illness/injury that will result in an insurance claim. This will enable you to get an insurance claim form and check that your horse is covered before procedures are carried out, avoiding any nasty surprises. Ask the vet that carried out the treatment to complete the vet’s section for you.  We will then return the form to you with relevant invoices so you can complete the form and send it to your insurance company.  With longer term claims you may have to fill out continuation forms or simply continue forwarding the invoices with the claim number written on it. 

With most insurance claims we ask that you settle your account with the practice as you normally would and then claim the money back from your insurance company.  If your horse requires hospital treatment, the hospital will request full settlement at the time the horse is discharged and again, you then claim the cost back direct from your insurance company.  If you wish your insurance company to pay the practice direct, and if the Practice is happy with this, we ask that you pay the excess to us within the 30 day payment terms, as this will automatically be deducted by your insurance company from the payment we receive from them.  It is the responsibility of the policy holder to ensure that their insurance company settles your account in a timely manner. Whilst we are happy to supply clinical histories or answer veterinary queries your company might have relating to the claim, we cannot manage your account for you or take any responsibility if you find yourself not covered by your insurance policy.

 

 

 


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