PROPERTY INSURANCE

If you are looking for insurance for a private residential property which has some stables then some standard household policies may extend cover to include your stables and barns under the section ‘Outbuildings’. However they are unlikely to provide cover for non standard buildings, arenas, horse walkers, machinery and hay and straw.

If you run a business from your property, such as a livery yard, then a standard household policy would not be able to provide you with adequate cover. Using an equestrian specialist will not only ensure you can get sufficient cover but they will also understand your business needs and will be more knowledgeable of the industry and the risks to insure.

Yes the policy will provide insurance for your home including contents insurance. Under the ‘contents’ section of the policy cover can be provided for everything from valuable jewellery and paintings to your clothing and personal effects, electronic equipment, personal money and credit cards, right down to the contents of your fridge or freezer!

Any good insurer should be able to explain to you the cover options available and answer any questions you may have. However it is important that you relay relevant information as clearly as possible in order that your insurer has a good understanding of your requirements.

The following questions are a good guidance as to the information you will need to provide:

• Is the property private or commercial?
• Construction details – describe the buildings correctly
• What security do you have in place – are there bars on the windows of your tack room?
• Do you have any alarm system in place?
• Is hay or straw kept on the premises, if so where?

When possible supplying pictures of buildings and the layout of the yard, will help the insurer to understand your requirements.

Yes a KBIS equestrian property policy can include cover for farm machinery, as well as quad bikes, under the section entitled ‘Establishments Contents’.

Under this section you can also include cover for your saddlery and tack and hay, straw and feed, items that you may not be able to cover under a standard household policy.

Due to the flexibility of the policy and choice of cover options available there is no fixed cost and every quote is specific to the type of property and level of cover being requested.

A number of factors will affect the cost of the policy but the most influencing factors will be the level of cover being taken out, the type of buildings, i.e. their construction and what they will be used for.

The underwriters will look at each case, or on an as needed basis, to design a policy to suit the insured requirements.

The cost of the policy is largely down to the construction of the building and what it is being used for. Buildings which are considered to be of standard construction, such as brick, block or stone, with a slate or tile roof are likely to be cheaper to insure than a timber building.

In addition the use of a building can also increase your premium. For instance keeping hay and straw in a timber barn is going to attract a higher premium, so consider if there is another option and think about the layout of the buildings – if you have to keep your straw in a timber construction keep it isolated from any other timber building.

Also think about the security measures you have in place, alarms on your home and tack room, metal bars on any tack room windows and use of security lighting.

The lower the risk to the insurer the lower your premium should be.

You can choose to pay for your policy by monthly direct debit which will help to spread the cost of the insurance, however there is likely to be an additional charge when opting to pay monthly.

If you are a member of British Showjumping, British Eventing or British Dressage then you will be entitled on a discount on a property policy with KBIS. You can read more about membership savings here .

The policy is designed to work on a reinstatement basis, that is to put you back in the same position as before the loss, so it is important to make sure the sums insured are adequate and that you’re not underinsured!

It is also important to keep receipts for any large purchases as in an event of a claim you will need to provide proof of purchase.

You may want to consider including insurance against business interruption, which covers you for loss of income during periods when you cannot carry out your normal business activities as usual due to an unexpected event. The cover is designed to put your business back in the same trading position as it was before the event occurred and would normally cover such incidents as damage caused to your premises or equipment from fire, storm or flooding.

It is important to remember to advise your insurer of any change in circumstances during the policy period, such as the change in use of any buildings, buildings which have become unoccupied or any change to the business itself.