Insurance

There are numerous policies available and it is important that you spend time investigating the various ones. Whilst your vet may be able to give some guidance current legislation only allows registered insurance brokers and agents to give specific insurance advice.

Main types of cover available.

(i). Veterinary fee cover
(ii). Death (All Risks of Mortality)
(iii). Permanent loss of use

i). Vets Fees Cover

Pays for non-routine vets bills after deduction of an excess. Companies offer a variety of different levels of vets fee cover to suit all budgets. No policy will pick up all the costs. You need to consider the excess payment, any restrictions on diagnostics e.g. MRI, alternative/complimentary treatment cover. Policies will continue to cover the necessary vets fees related to an incident for a specified period from the onset of the incident (usually 12 months).

Policy period - Equine policies are 12 month contracts. At the end of the policy period you may be offered a new 12 month contract which will exclude any condition that occurred during the previous policy period.

(ii).All Risks of Mortality (ARM)

This cover is intended to cover the loss of a horse that has to be put down on humane grounds only. The British Equine Veterinary Association (BEVA) has drawn up guidelines to which most insurance companies adhere to.

That the insured horse sustains an injury or manifests an illness or disease that is so severe as to warrant immediate destruction to relieve incurable and excessive pain and that no other options of treatment are available to that horse at that time. Where a horse is exhibiting signs of severe and unremitting pain that can no longer be managed so that no other options are available for treatment, then it is the veterinary surgeon's responsibility to destroy the horse immediately.

In all other cases, (that is where the horse can be provided with effective pain relief), the insurer should be contacted to give their prior agreement or to allow a second opinion to be given by their consulting veterinary surgeon

(iii). Permanent Loss of Use insurance

This covers the horse if it becomes permanently incapable of performing the tasks for which it is insured. The definition of specific use will vary depending on the individual policy and company.

There are two distinct types of cover sold:-

a) Permanent Loss of Use due to accidental visible external and violent injury only (involving an external wound).
b) Permanent Loss of Use due to sickness, disease and accidents.
The injury or illness must commence during the policy year and the Loss of Use must be established within the time limits specified by the policy (usually 12mths from onset of the condition).

Loss of Use insurance does not cover for loss of value, lack of ability, behavioural problems or temporary incapacity.

It is strongly recommended that all horses are appropriately insured.