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Most insurance companies allow you to choose
the cover you buy. However, to the inexperienced
this can prove to be a minefield and it
is essential to make sure that your options
are explained to you fully and that you
understand them. Remember, it is in the
insurer's best interest to make sure they
cover your needs. So if you don't understand
anything, ask again!
1. Veterinary fees
The most common reason to claim on
equine insurance, though not necessarily
the most costly, is for veterinary fees.
When your horse falls ill or is injured,
discovering exactly what is wrong can be
a drawn out process. Horses, unlike humans,
cannot say what is wrong and therefore methodical
means of determining what hurts, where an
infection is sited, or why a horse is not
eating are the tools a vet will have to
use. Veterinary medicine is expensive and
if you do not have the means to pay an unexpected
bill of up to several thousand pounds for
an emergency surgery or lameness investigation,
you may be faced with the unpalatable decision
of whether or not to have your horse destroyed.
2. Total loss cover
This term is not to be confused with
permanent loss of use. Total loss refers
to either the death of your horse or to
its physical disappearance, whether by theft
or straying. In these circumstances this
insurance benefit will repay you the full
market value of your animal.
3. Third party
liability
If you consider no other insurance
cover, you should treat third party liability
as essential. Horses are large and sometimes
potentially dangerous animals. We all know
that horses can kick out, whether at a person
or a passing car. However, did you know
that you could face being taken to court
and face damages running into thousands
of pounds if you are found legally liable?
In any situation where a third party is
injured (or worse) or their property is
damaged, they can look for financial compensation.
Taking out insurance cover to protect yourself
against this risk is very inexpensive and
it is not a benefit that should be considered
optional.
4. Personal accident
and dental cover
Most insurance companies will offer
these benefits to protect anyone who is
riding or handling your horse, not just
you, the owner. Cover is usually for permanent
disability, or death - it is not a glorified
health plan.
Benefits in addition to those listed above
will suit some owners more than others and
these can be chosen to suit your needs.
They include options such as saddlery and
tack cover; permanent loss of use; disposal
and cover for your trailer or horse-drawn
vehicle.
5. Permanent loss
of use
Loss of use cover probably causes
more confusion than any other area of horse
insurance both at the time of purchasing
insurance and, more importantly, when a
potential claim arises. This is usually
due to a misunderstanding of the benefit.
In very basic terms this area of cover
exists to protect you if your horse were
to suffer an injury or illness so severe
that it will never be able to participate
in the activity it is insured for again.
For example, if an advanced eventer has
an accident resulting in severe tendon damage
or a dressage horse develops degenerative
joint disease (DJD), and the attending vet
advises that full recovery is unlikely,
then the policyholder would have a valid
reason to make a claim which would be assessed
under the relevant terms and conditions
for this section.
The important thing to remember is that
the disability has to be permanent and it
has to prevent the horse from doing an activity
that it is insured for. For this reason,
claims under this section may take many
months to settle, as it may not be clear
from the initial onset of the illness or
injury whether the horse will recover.
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