THE INS AND OUTS OF EQUINE INSURANCE

Jenny Dyson-Holland with Occy.

Horse Insurance: Will I? Won’t I?

Researching horse insurance can produce much the same result as researching for any other type of insurance: you quickly find yourself comparing apples with oranges, writes JANE CAMENS.

Perhaps one of the better ways to gather information on potential insurers for your beloved equines is to go straight to the horse’s mouth. Speak to people who’ve purchased a policy and lodged a claim with their insurer to find out what their claim was for, and how they would rate their experience.

That aside, this is a thorny topic full of potential traps – so please do not read this article expecting a clear guide to choosing an insurer. Policy terms and conditions vary dramatically from insurer to insurer, so perhaps the sagest advice to heed is from FEI rider and coach Libby Welch: “Read the fine print.” And we would add to that, be sure you know the right questions to ask your prospective insurer prior to handing over your hard earned cash. It’s more than the dollar value

If I were to decide purely on financial grounds whether it was value for money to cover him I’d have to conclude that it wasn’t, as his purchase price was just $5,000.

But taking out horse insurance is rarely only about recovering your initial outlay. Let’s face it, the cost of buying a horse is peanuts compared to the other expenses involved, plus the value of your emotional relationship. There certainly are people who insure horses primarily to recover the purchase price and training costs in case of unexpected injuries or death. But you can’t replace a beloved companion with a money-back cheque. If he or she is your one and only soul horse, it’s a knuckle-biting dilemma.

Case study one

Jenny Dyson-Holland, owner of the Belle-Ayr Agistment and Training Centre, told HorseVibes about her decision to insure her Welsh Cob pony Occy, who she bought for just $700.

“He’s an amazing little horse. He’s only 13.2 hands but jumps a metre - he’s a powerhouse. But he’s the only horse I’ve ever insured and I don’t know why I did it,” Jenny says

Putting her decision down to an inner voice or intuition, she now feels immensely lucky that she heeded that voice. Jenny chose a Petplan Equine Insurance policy that covered Occy for $10,000, which cost her $110 each month in premiums.

“I didn’t need a vet certificate for that much cover, but for coverage of $20,000 you do need one,” she explains.

Her decision to insure saved her lovely pony. Jenny recalls: “I’d had the insurance for a year when I noticed a small lump on his eyelid.” After a biopsy, it was confirmed that the lump was cancerous. Occy needed chemotherapy which, with the exception of a $200 gap payment, was covered by insurance. After six months off, he’s now back in the show ring.

Peace of mind at a price

The more research one does into horse insurers, the more companies emerge promising peace of mind at a price. Some companies offer an online form that you can fill out to estimate what your premiums might be.

I filled out such a form for my 13-yearold quarter horse and found, without declaring anything was currently wrong with him (indeed, there wasn’t a question on the form allowing me to declare whether something was currently wrong with him), that I could get cover for between $1,100 to $2,500 per year.

After a biopsy, it was confirmed that the lump was cancerous. Occy needed chemotherapy...

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Libby Welch with her Grand Prix dressage horse, Fibritzio.

Jenny is thankful she took out the insurance, but warns that the claims process isn’t easy as veterinary providers don’t bill the insurer direct.

“You have to pay the bills and then lodge a claim with all the receipts and paperwork. They don’t just hand over the money,” she says.

Case study two

FEI rider and coach Libby Welch, who has 30 years experience in breeding and preparing young horses, has also used Petplan but recently insured with Affinity, another equine insurer receiving good reviews. Affinity also offers rider cover.

Libby was lucky with her beautiful Grand Prix horse which she brought to Australia from Germany. He remained sound throughout his career with her, but another young horse she sold to a client wasn’t so lucky. Fortunately, though, Libby had recommended that the client retain insurance for $10,000.

“Lo and behold, the horse was playing in the paddock and severed its front tendon,” Libby says. surgery, plus the additional cost of four weeks at a vet hospital, the tough decision was made to euthanise the horse.

“For that family, insurance was the best money spent. But generally people don’t understand insurance. You’re not going to save money. You insure a horse to give it every opportunity if it requires expensive medical procedures which are generally unaffordable unless you’re covered. I insure my horses to give them the best chance,” Libby says.

Take the test

A starting point

There are a number of insurers who offer coverage for horses, including ESI, Petplan, Affinity, Gow Gates (the insurer for Equestrian Australia), Fitton HorseInsure, HQ Insurance, and AIS Horse Insurance.

Our best advice is to do your research, ask plenty of questions, and read the policy, especially the fine print, very carefully.

As one insurer remarked, the decision as to whether or not to insure is entirely personal. But if you do decide that insurance is for you, be sure your choice of insurer is very carefully considered. Do you know what you should ask providers when researching policies? Courtesy of ESI Insurance, here are some tips.

If you’re mainly a recreational rider:

1) Do I need a vet’s certificate before I can insure? 2) Are there any exclusions in the policy (e.g. your horse’s age)? 3) Does the policy cover firstparty and comprehensive? 4) Is my horse covered at all times, no matter where they are? 5) Am I covered if my horse is being transported? 6) What if a third party causes injury to my horse? 7) Is my horse covered for accident and injury? 8) Is there an upper limit on vet bills? 9) Does an excess payment apply to claims?

If you teach other riders or train horses:

1) Do I need qualifications in order to take out insurance? 2) Is public liability included and what level is the cover? 3) Does the policy include professional indemnity? 4) Do I have income protection in case of accident or injury? 5) If work-related travel is involved, what am I covered for? 6) Do I need a stand-alone public liability policy to cover horses on my property? 7) Do I need to endorse my coaching insurance to cover agisting, boarding, transporting or riding clients’ horses in events?