Mortality, Theft & Straying is the starting point of your insurance. If you are insuring your horse of a value (i.e. you are including a Sum Insured) then you are including this on your policy. It is the benefit paid following the death or euthanasia of the horse or if the horse is lost or stolen and not found. It means you receive back up to the sum insured of the insured horse, as long as this is reflective of the horse’s market value.

You can then choose to add additional cover such as vet fees, permanent loss of use, personal accident and legal liability to your policy.

Most insurance companies will offer All Risks of Mortality, which covers the loss of your horse due to any new accident, illness or disease.

You can also purchase Mortality Cover for accidental, external injuries involving an open wound only. This cover is usually offered when the horse becomes older and the risk of mortality as a result of an illness or disease becomes too high. At KBIS, when a horse reaches 26 years of age cover is then limited to accidental, external injuries involving an open wound only.

Purchase price is the price that you paid for the horse. Market value refers to the amount that would generally be paid for a horse of a similar age, sex, breeding and ability. Sum Insured is the amount you choose to insure your horse for.

The market value is likely to after a while, either because the horse is doing more or less as well as factors such as age and any injuries sustained etc. If you are unsure of the market value of your horse, look at other horses that are for sale at the time that are of similar breeding, height, age and level. Similarly, at renewal of a policy, the market value should be considered.

To establish the market value of a homebred horse you would generally consider the stud fee plus their bloodlines. When the horse/pony has achieved a competition record this can then also be taken into account.

If you have recently purchased your horse, the amount you paid is the most you can insure him for. You can choose to under insure your horse by up to 50% of the current value, which some people choose to do in order to bring down the premium. Bear in mind this does mean that is you sadly lost the horse, it would be up to the Sum Insured that you would receive back, rather than the horse’s full value.

Although under insuring is an option, most insurance companies will not under insure a high value horse below a certain value.

Age will also affect how much you can insure your horse for; generally, as horses get older, insurance companies place restriction on the value for which they can be insured.

At KBIS, limitations on the sum insured apply once the horse reaches 17 years of age; however,  we do look at every case individually and are always happy to approach our Underwriters in exceptional circumstances:

Age Limitations on Sum Insured:

As a general rule you cannot insure for a value above the purchase price for a horse/pony that has been recently purchased. Your insurance company will most probably advise you that the value can reviewed the value in 6 months when, for instance you may have built up a successful competition record.

You will only receive the full Sum Insured if this is a true reflection of the horse’s market value. It is important to remember that an insurance company will pay out for the market value of the horse up to the Sum Insured. If the market value is deemed to be lower than the sum insured, any claim settlement will be adjusted accordingly.

Mortality insurance only pays out if the horse needs to be euthanised immediately due to severe unrelenting pain. The British Equine Veterinary Association (BEVA) has issued guidelines for vets when dealing with mortality insurance, these can be grouped into three scenarios when a horse is euthanised from an insurance perspective:

1. Immediate emergency euthanasia where a condition is so severe that immediate euthanasia is required to relieve incurable and excessive pain and no other options of treatment are available.
2. Critical illness or injury necessitating non-immediate euthanasia, the horse exhibits signs of severe and unremitting pain that can be controlled by safe and effective levels of analgesic medication in the short term but, in the opinion of the attending veterinary surgeon, cannot be managed in the long term and no other options of treatment are available. In these cases insurers must be advised prior to euthanasia to allow them the opportunity to get a second opinion.
3. Injury or illness which, whilst career ending and the horse may be permanently lame, can be managed on low levels of medication and the horse can be retired. Owners may decide that the right answer for them and the horse is to choose to put the horse to sleep, but this would not be a valid mortality claim. Although it may represent a Permanent Loss of Use claim if this level of cover was included in the policy.

To view The BEVA Guidelines click here

Public Liability is one of the most important areas to consider taking out cover. It provides the policy owner with cover against their liability to a third party or damage to third party property, for example if your horse broke free when tied up in your yard and then proceeded to cause an accident on the road.

Insurance companies may also refer to this cover as Legal Liability or Third Party Liability.

Although not law it is one area of cover that should not be overlooked. Public Liability cover is generally not very expensive to add on to a horse policy and, depending on the level of cover you choose to include, it can be included on you horse’s insurance policy for less than £20 a year but could save you thousands in the event of a claim.

Membership with affiliated bodies will sometimes include Legal Liability cover. It is important to check exactly when, where and what it covers you for as it may only provide you with cover when you are riding or competing at one of their events or clinics.

You should never admit to any responsibility or negotiate any kind of settlement. Liability claims can be very complex and your insurance will only be valid if you were legally responsible for the horse at the time of the incident and the incident was a direct result of your negligence.

It is important to notify your insurance company straight away and forward any documentation straight to them without replying. Your insurance company will then deal with any claims against you on your behalf.

Even if your liability to the third party is under dispute the underwriters may decide to settle on economic grounds, this is due to the fees that would be incurred should the incident go to court.

Personal Accident insurance covers you if you sustain a bodily injury through riding, handling, mounting or dismounting the insured horse. Most insurance companies offer two different levels of cover, a lower and higher level.

Cover varies from policy to policy but under a typical KBIS horse insurance policy it would cover the policyholder and any person to whom the policyholder has given permission to ride or handle the horse. Cover would be in accordance to the schedule of benefits as in your policy terms and conditions.

If the horse is being used in a business environment i.e. in a riding school lesson you will not usually be covered; the riding school should have their own Personal Accident cover in place.

When added onto a horse policy Personal Accident cover is not an expensive addition. There would be an increase in premium of around £15 – £30 depending on the level of cover you take out. Personal Accident cover under a horse policy is designed as ‘catastrophe’ cover and is more limited than a specific Personal Accident Insurance Policy.

If the cover available is not adequate for your needs then you should consider taking out a stand alone Personal Accident policy. Additional benefits will include Temporary Total Disability which will pay the policyholder a weekly amount in accordance to the benefit scale if they are temporarily unable to carry out their normal business or occupation. Unlike when added on to a horse policy, when cover is limited to riding or handling the insured horse only, a stand alone personal accident policy will cover you whilst riding any horse and can also include other activiities as well.

Click here to view the cover available under a KBIS standalone Personal Accident policy.

Most insurance companies will insure you for loss or damage to saddles (including stirrup leather and irons) and bridles (including any martingales and harnesses). It is generally the equipment that is used on the insured horse whilst being used for the activities for which it is insured.

You will not be covered for general wear and tear or any damaged caused by, for example vermin. You will also not be covered for rugs, grooming kits, hats and other such items. Such limitations will be noted in the terms and conditions of your policy.

Generally most insurance companies will base the settlement on the actual value at the time of loss, therefore if when you take out your policy your saddle is new you should insure it for its full value. When your policy is up for renewal it may be worth decreasing the value depending on the current condition and market value of the saddle.

The security requirements will vary between insurance companies but with KBIS if your tack is being kept in a yard where there are more than 10 horses then an alarmed tack room would be required. In all other cases the tack must be kept in a secure building and the doors must be locked with a deadlock and any windows securely locked. If you are unable to meet the security requirements then it may be worth speaking to your insurance company as a compromise may be able to be reached.

Such conditions of your insurance policy will be stated in the policy terms and conditions.

Under a horse policy with KBIS your trailer or horse drawn vehicle would be covered whilst immobilised and whilst being towed for any damage or physical loss up to the sum insured.

Such policies would not cover you for any legal liability to third parties, this should be covered under the insurance of the towing vehicle. It would also not include any general wear and tear or mechanical breakdown.

Yes your insurance does provide cover should your trailer or horse drawn vehicle be damaged or destroyed whilst you are towing it, but it only covers the trailer and not the towing vehicle.

You do not need to have your trailer in a secure building but it will need to be immobilised when it is not in use. A wheel clamp and hitch lock would be the ideal but the exact terms will be stated in your policy terms and conditions.

As long as you are not receiving any form of payment for transporting the horse or transporting horses as a business you will normally be covered under your policy. If in doubt you should ask your insurance company.

If you let someone else use your trailer/horse drawn vehicle as a one off and do not receive any payment it would not affect your cover. However if someone is regularly using your trailer, using it for businesses purposes or is partly responsible for its security and maintenance then you should contact your insurance company as this may affect your cover.