Why cutting back on horse insurance could be a costly error...
Why cutting back on horse insurance could be The well-documented economic slowdown is leading many horse owners to tighten their purse-strings and cut back on spending. But while saving money may be towards the top of your agenda, scrimping on equine insurance could prove a costly mistake - both for you and your horse. |
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But if your horse isn't insured, and is then ill or injured, you're left to pick up the vet's bills on your own - with no guarantee that you'll be able to afford them.
There are countless other scenarios in which failing to insure your horse adequately could prove false economy. Indeed, the following examples show that establishing good horse insurance cover could turn out to be one of the best financial decisions you make all year.
 | Horse rider accident insurance Whether you own a horse or just ride occasionally, personal cover is essential for all horse riders. Good horse rider insurance policies will not only provide significant personal accident cover, but provide cover for vet's fees in instances where the horse is injured too. Liability cover Even if you're not involved in an accident caused by your horse, the ramifications can be severe. A recent case which saw a horse trainer claim for compensation when injured by a horse owned by someone else highlights the need for good cover in this area. NFU Mutual's horse insurance provides cover against accidents caused by your horse to a third party, with standard personal liability of £2.5 million. Loss of use / breeding infertility If your horse is involved with equestrian events, racing or is used for any other specific purpose, you can also take out insurance which provides cover against ‘loss of use'. This means that should your horse's career be cut short by illness or injury, you'll be financially compensated. |
It's not just the horse which needs insuring
If you don't already do so, you may want to consider insuring your various items of horse equipment as well as your horse. While horsebox insurance and the like may seem one expense too far, items like horseboxes, trailers and tack will be significantly more costly to replace should they be stolen or damaged.
Tailored horse insurance policies
Remember that a good equine insurer will do all they can to provide the cover you and your horse needs at a price that suits you. Speak directly to an insurer such as NFU Mutual and they will inevitably do their best to tailor a horse insurance policy to fit your unique circumstances.
By doing so, you should find you're able to afford peace of mind without breaking the bank.
Top photograph ©waynejonesphotography.com
Added on: 24/04/09.
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