Loaning and Insurance - who pays ?

R

Ruskii

Well-Known Member
Jun 21, 2000
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I'm enquiring about insurance quotes this morning and some are just :cold:, I self insure but if he goes then I will want him to be covered by insurance, as he would be doing more than hacking. Turns out I'll need a 2 stage vetting anyway before anyone touches him.

I did think I might allow him to go hunting but thinking on it, I don't want him to. To much of a risk of an injury when everyone is running around with high andrenalin and he's not the most sure footed beast around :rolleyes:

My next question is, do I take out the insurance and ask for loaner to pay me each month or pay it out in full to me ? Or Do do I let them take the insurance out and keep it up to date. I have heard both tales of it being good and bad, bad in that it appears I won't trust the loaner :unsure: TBH I trust them to look after him as they have been doing so for the loan so far and it's gone well. But I just wonder if something DOES happen and then they are presented with the excess bill and they cancel the insurance and I have an injured horse returned who requires 000's of pounds of treatment, worst case scenario I know but that's the way I think.

What do I do ?
 
You can do it two ways, one where you keep the policy going but change it so it has your loaners details attached and they pay the premium or the loaner takes out the insurance themselves and you get a copy of the certificate.
 
Why do you need a two stage vetting?? Is that because of his value or because you have owned for a long time but never insured?? Only mention as pretty sure petplan don't require a vetting unless over a certain amount,but they *might* if not been insured before,not sure but might be worth checking on that point (and with other companies) as could save you a few quid on an un-necessary vetting.

As for who pay's,well after a close friends experience I would err on the side of caution TBH.
Friends loaner took out insurance but didn't keep up with monthly payments,so it lapsed.Mare sustained a tendon sheath injury,loaner shipped horse back to friend who then had a very susbstantial vet bill to get mare right again.Either pay it yourself or make them pay it yearly upfront would be my advice.
 
I hate it when people send horror stories about loaning but I just wanted to share what has happened to a lovely pony on our yard. The pony is a very good showjumper and went on loan with a view to buy. He ended up going lame for some reason, the vet wasn't called and the pony was turned out into a field for weeks on end to see how the lameness went. He has now been returned hopping lame with no improvements shown. The horse now needs x rays and investigation to the route of the lameness, but as the loaner didn't call the vet and the owner didn't insure, the horse is now not covered for any vets bills.

If I were to put my horse out on loan I would always make sure that the insurance was in my name and I was paying it. You can always ask the loaner to give you a contributed towards some (or all) of the cost.
 
When I had joy on working livery loan then my payments included the insurance amount. Mind you I didn't have her on full loan

If I were to put joy out on loan I'd get the policy I wanted to ensure the cover and restrictions and excesses were acceptable and then come to an agreement re the payment, or have it come out of their account but the correspondence to come to me so I'd know if payments were missed.

In theory, if we trust someone to take our horses then we should trust them to do right by insurance. In practice though...
 
That answers that question then. I'll insure him and they can pay me. At least I know he's covered should he do something to himself.

Thanks for the tip DL, I went to Petplan and I don't need a 2 stage vetting done. Their policy is a lot more straight forward as well.
 
Ruskii said:
That answers that question then. I'll insure him and they can pay me. At least I know he's covered should he do something to himself.

Thanks for the tip DL, I went to Petplan and I don't need a 2 stage vetting done. Their policy is a lot more straight forward as well.
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No worries,no sense you having more expense than needed and for what it's worth my vets prefer to deal with petplan rather than anyone as best for paying out promptly.Possibly slightly more expensive (although I don't find them so TBH),but hassle free service and prompt payment makes up for that in my book.

Just check if doing it yourself that insurance company need to know is out on loan,I know NFU have some stupid thing about them being within 11 miles of home,don't think petplan do (I did enquire when moved Marb for few weeks),but they might want to make a note of him being out on loan and what his location is etc.

Seems really cynical to doubt people,but I have known far too many bad experiences sadly.The reality is that sometimes people are not as thoughtful or responsible when the horse is not theirs and they know if worst comes to worst they can hand it back.
 
I have it from two sides.

I had a horse on loan, the owner had the insurance policy and i paid the premium - there was a claim, they pay the owner, but i had to pay the vet, and the owner never paid me and trousered the money. End of loan. Sent the horse back. I had to pay for that as well. Oh and buy a saddle for him, rugs, he came naked.

I put my mare on loan, the loanee was a veterinary nurse, she was supposed to insure the mare (i cancelled my policy), the mare got kicked within 10 days of arrival, they didn't have a vet out for days, she eventually ran up £2000 at vet hospital after the mare was removed and taken into care to be treated as they didn't insure her, part of the charity's loan agreement, and didn't make one penny contribution to her costs. At one stage it looked like she would have to be pts. In the end I took her back from the charity to do box rest and repaid the bills myself over time.

I would insure yourself so that at least you know the horse is insured.
 
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