Equine Insurance
Posted by JLT Bloodstock, 16 Aug, 2010
Services, Performance Horses, Performance Stallions
Sally Copeland from JLT Insurance explains the benefits of insuring your Horse. Sally Copeland, originally from the UK, moved to New Zealand in 2001. She had already worked in the Equine Industry before taking on a role as a specialist bloodstock insurance broker and underwriter. Sally also has qualifications from the UK and Australia/NZ, as well as her Higher National Diploma in Equine Studies. She places horse insurance in both, the UK and New Zealand.
ThatHorse News: Why would you recommend insuring a horse?
Sally Copeland: Peace of mind, although we do not like to think of the worst especially when it comes to our horses, unfortunately sometime the worst does happen. After the grief has passed, if you would like to consider purchasing another horse, having the finances from a claim settlement would be a great benefit.
Personally, the knowledge that I have my horses covered for veterinary fee costs gives me peace of mind. It is awful to see an injured horse but what makes it worse is when the owner is stressed about paying for the veterinary treatment.
THN: Which horses should be covered by insurance? (ie leisure, sport, racing, riding school)
SC: Any horse can be insured subject to the relevant documentation ie a proposal form & declaration of health and or a veterinary certificate depending on the individual horse
THN: Does the insurance cover sickness and/or accidental death?
SC: The most common policy covers death or destruction on humane grounds from any accident, sickness or disease. Other benefits maybe added such as veterinary fees but it depends on the type and use of the horse
THN: What value does the policy pay out on?
SC: When the policy is taken out the owner of the horse completes a proposal form and declares the value in which they would like to insure the horse for. The policy conditions state this amount must be a fair market value. For instance if you purchase a horse for $5,000 that is it market value, if over time the horse improves or has show success and therefore its value increases this can be amended during the policy period
THN: Do you think more people should consider insuring their horse?
SC: I think most people don’t consider insurance until it’s too late. I would encourage horse owners to think about the impact the loss of their horse would have on them not only emotionally but financially. If the possibility of having to purchase another horse or have unexpected veterinary fee bill would create a financial burden then I would recommend taking out insurance.
THN: What advice would you give anyone looking to insure there horse?
SC: It is a good idea to ring around for quotes, but make sure you not only compare the premium but the policy wordings also. Ask your friends , trainers or other industry people who they recommend and whether they have any experience of the companies claims service. Do not be afraid to ask questions it is best to have a full understanding of your policy at the inception rather than having to ask questions in the event of a claim
THN: Would you give any advice for those who take out bloodstock insurance?
SC: It is important to understand the policy conditions, if you horse requires veterinary treatment contact your insurance provider immediately and keep them updated as to the horses progress. In some cases, a 2nd opinion vet maybe appointed or a loss adjuster so it is important to keep your provider fully informed.
In the event of a claim, a post mortem is required in most instances; always advise your vet your horse is insured and that you require a post mortem to be carried out.
THN: Is there a standard policy for all horses?
SC: No, different horses have different risk levels and are therefore given different terms for their insurance.
THN: If my horse has seen a vet in the past 12 months can he be insured?
SC: In most instances yes, however there may be an exclusion or other terms placed on the policy. Any pre-existing conditions are excluded from the policy. This makes it fair for all of those people who insure their horses. If a horse is more likely to be subject to a claim than another, the terms of the policy have to reflect that risk level.
Contact the seller
Contact: Sally Copeland
Website: www.horseinsurance.co.nz
Address: PO Box 547, Cambridge 3450
Phone: 0800 383 071
Mobile: 64 (0)27 274 2998
JLT Bloodstock is a division of Jardine Lloyd Thompson New Zealand Ltd. We are proud to be part of the JLT Group and as part of this international company we have internal processes that ensure our business is carried out to the highest standard. JLT Bloodstock provides specialist insurance services to the equine sector. We are one of New Zealand’s largest providers of bloodstock insurance... More Info
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Equine Insurance
Sally Copeland from JLT Insurance explains the benefits of insuring your Horse. Sally Copeland, originally... More »
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