Horses are beautiful animals, but they are also strong, they have the power to move very quickly and escape anything they see as dangerous. It is known that even the calmest of horses can become unpredictable if they are startled, meaning a big animal which is moving at speed, can potentially have profound consequences. Which is why we’re going to look at all the different insurance requirements today…

Table of contents

Much thought should go into purchasing a horse; such as the suitability, temperament, the breed, and what activities you would like to do with the horse. When considering the financial side of owning a horse, the prospective owner must remember to consider the full cost of veterinary treatment and any third-party claim that could be made against you.

Liabilities

A person who rides, owns, or helps to look after horses should have insurance for their horse. And it is strongly recommended to have public liability cover. This is because the person in control of the horse may be legally liable to pay any compensation. Remember, personal injury claims can get into large figures of money.

It is essential to be aware that under the Animals Act 1971, there is liability for damage or injury that is caused by animals, belonging to the owners or the current keeper. 

“Strict Liability” is a liability under which the owner or legal current keeper is responsible for any outcomes of an activity.

Horse insurance

There are many things to consider (and do) when taking out horse insurance:

  • It is possible to ask your vet to perform a pre-purchase vetting, this would give you assurance that the horse is well before the purchase. Many insurance companies require this for insurance purposes before a policy is taken out.
  • It is a wise idea to insure the horse for the current market value. Normally, this means that if the horse is a new purchase, this is the price that you paid. If you are not sure of the market value, you can search on reputable websites. Other things to consider when finding out the market value is the breed, age, activities the horse may have taken part in and if the horse has any health issues.

The insurance company

When it comes to the insurance and the insurance company itself, then it is always an innovative idea to view the market and shop around to make sure you are getting the right insurance.

When deliberating over an insurance for your horse, consider more than the price when comparing. You also need to find out if they are a specialist horse insurance company or do they offer anything else which is relevant to give you the same amount of cover. It is advisable to always check the cover levels and reviews. Many people leave a review now, so read the positive, negative feedback, and do what is right for you.

The insurance policy

It is advisable ALWAYS check the small print with the policy. In the event of a claim, you must know what you are covered for. It is always good to ask the insurance company up to what age any illness covered for? What are the exclusions? What is the limit on cover?

Public Liability is one of the most important sections of cover for a horse owner as you may be liable for any damage or injury caused by your horse. Claims from a third party for compensation, can run into thousands of pounds. 

It is highly recommended you keep your insurance provider up to date with any activities or injuries that your horse receives relative to your policy. It can be a problem if your insurance is not up to date and should you wish to make a claim, this could be rejected.

Learn more about equine insurance…