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Loss of use on insurance

Discussion in 'Veterinary,Injuries and Therapies' started by newforest, Oct 4, 2017.

  1. newforest

    newforest Opinion, a view not always based on knowledge.

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    I didn't want to add onto another posters thread about this. But we do have some insurance posts around right now. My friend has discovered a grey area. She is fine with me posting providing I don't identify her obviously.

    On my insurance it used to say loss of use. I know that a non competiton horse is really hard to prove the loss. The insurers did say as much! So we got that taken off.

    We hack and do non competiton things six days a week most of the year. So a vet saying she can ridden lightly here and there would be loss to me on what we do wouldn't it. This is hypothetical by the way.
    But without a competiton record you have no proof, those who pay for this keep you competiton results / entries that you pre book for. My friends horse cannot compete to the level they were but so far insurance is not accepting because it still can compete!
     
  2. Jessey

    Jessey Well-Known Member

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    Its really grey, my friend got her claim through for her national but low level competing horse, even though the mare can still hack. It really depends what the vet puts in the report, plus if you plan to sell the horse on or keep it as if it is declared loss of use, cannot compete or school but can hack, if you sold it on you can only sell it on as a hack, if they then schooled it and it was seen or they tried to have its status revoked so they could compete at low level (due to a better than expected recovery) you could be in for a fraudulent loss of use claim.......
    I've never had loss of use, I've known more people not get paid out than those who do.
     
  3. Lissie

    Lissie Well-Known Member

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    This is why I haven't insured Lottie for LOU, I did with Charlie and could of got a print out of his competition record. His insurance cost me nearly £100 a month!! So this time round I've insured for only half what I paid for her, to keep the premiums down and just have the usual vet fees, public liability etc.

    Usually it can take a long time to get a payout and the insurers want to explore almost every potential treatment so could take ages to actually get the LOU. Then they will pay out the sum insured or market value which ever is lower, so I think if you paid £6.5k for a horse who was jumping 1.10mtrs then couldn't say to a tendon injury, insurers would argue after time horse could jump again or do smaller classes. It's a minefield so I haven't bothered, I can understand why people do though as I did with Charlie, but after paying those monthly premiums and hearing stories from others about how hard it can actually be to get I've changed my mind.
     
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  5. Trewsers

    Trewsers Well-Known Member

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    I have never had that - none of mine are insured now apart from public liability. It wasn't until a few years ago I knew it existed. Wish I had had it when Joe died really. But if it's a grey area then maybe hard to establish and prove?? With him tho it would have been very clear cut as his fetlock dropped and he was completely lame:(
     
  6. newforest

    newforest Opinion, a view not always based on knowledge.

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    Loss of horse is another grey area.

    I ignore that to be honest because between myself and the vet, we will decide the treatment necessary and make that decision, not an insurance company who hasn't even met they horse.
     
  7. Jessey

    Jessey Well-Known Member

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    When I was at that point with Bo, the decision was made on the grounds of his suffering and chances of recovery but I called my insurance to let them know what was happening before the deed was done and they really surprised me by thanking me but saying that I really needn't have contacted them at such an awful time and that I could just call them back when I felt up to it, I had full pay out in about 10 days. That was SEIB if anyone cares.
     
  8. Bodshi

    Bodshi Well-Known Member

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    They have been really good with me and my claims - very human. Pet Plan was also very good but I changed to SEIB because they were a bit cheaper for Raf. For Jack KBIS were the cheapest so he was insured through them, and they were also good when it came to claiming for his Navicular. He is no longer insured though because OH reckons if anything serious happened to him now it would be pts rather than spending a fortune and/or putting him through invasive diagnostics/treatment.
     
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  9. Jessey

    Jessey Well-Known Member

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    I've probably had £20k off of tgem over the years, they've never quibbled a claim apart from the mri for jess as they said if it showed laminitic changes, because of her prior exclusions, they wouldn't cover it but at least they didn't wait until after it had been done!
     
  10. Cortrasna

    Cortrasna Grumpy old nag

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    When I lived in the Uk I only ever insured them with NFU and I have to say they were fantastic - I had full no quibble pay outs for loss of use for one and for the death of my mare who was by then in her early 20s and also extensive surgery at Newmarket for my gelding. But this was over 20 years ago so doubt they are so good now? I don't even bother with loss of use now - it is immaterial as far as Dolly is concerned and just not worth the extra hike in annual costs IMO.
     
  11. Star the Fell

    Star the Fell Well-Known Member

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    Interesting. I have Star insured for 'loss of use' .
    I ve not even considered a claim even though I'm planning to keep her as a retired horse. I don't think I could get anywhere with a claim though as I have decided to keep her barefoot against the vets advice. Vet says she 'may' be rideable in the future Providing she has heart bar shoes on. So I imagine insurers wouldn't pay out in that situation.
     
  12. Jessey

    Jessey Well-Known Member

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    I'd talk to them and see what they say.
     
  13. orbvalley

    orbvalley Well-Known Member

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    Mines insured for LOU but its clearer here (I hope) as she's declared as a leisure horse doing hacking, dressage, jumping + foaling. I insured her at that level as we already have 2 retired with navicular and if anything happened to Cocaine whereby she could no longer work we couldn't afford to keep 3 retired & buy & keep another.
     
  14. Jessey

    Jessey Well-Known Member

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    you can insure LOU for that here, the difficulty is that they have to be unable to perform any of those things to be considered total LOU and to be paid out on.
     
  15. MrC

    MrC https://m.facebook.com/MrKiasLife/

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    I’ve never taken out loss of use, never bothered with it. Even when I was competing I never bothered. I’m not even semi professional so loss of use I don’t think matters nor applies to those not competing seriously as a professional.

    Personally I don’t think it should be available to the hobby rider.
     
  16. newforest

    newforest Opinion, a view not always based on knowledge.

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    The thing is @orbvalley if the vet said she couldn't be ridden but you could breed, you wouldn't be paid. Even if you felt breeding would be a bad idea due to injury.
    You need to prove what work you are doing and that's the hard part. It looks like most insurers see the leisure horse as only doing something weekends.
     
    orbvalley likes this.
  17. orbvalley

    orbvalley Well-Known Member

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    My thinking on including breeding was in the event that she was infertile:eek:!:D Oh the things I think of!!
    I have got hours & hours of gopro video that I could present as evidence of work I guess!
     
  18. newforest

    newforest Opinion, a view not always based on knowledge.

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    Unlikely. You are not actually a registered breeder. I have a mare and loss of use means what you are using for now, I don't have a broodmare.
     
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