In their first article for EWW as part of a new series Petplan Equine talk about their unique ‘try before you buy’ scheme.
If you have any equine related insurance questions you would like to ask Petplan please email email@example.com with Petplan Question as the subject.
‘Try before you buy’
The eventing season is well underway, a sport that engages all ages and levels, but have you stopped to check you have adequate insurance in place to cover you in case of injury to your horse, yourself or a third party? Charlotte Collyer, senior marketing executive of one of the UK’s leading specialist equine insurance providers, Petplan Equine, provides a guide to insuring your horse or pony for competition.
The important thing to establish when taking out insurance is that it provides cover to meet your needs: these are likely to include vets’ fees, personal injury, loss of use and third party liability. So, the best advice I can give is to choose a specialist equine insurer who offers tailored policies to suit individual needs and make sure you are adequately covered according to the activity you do with your horse.
Insurance premiums are determined by a number of factors including the horse’s age, market value and the level of risk associated with the activities for which cover is required. Many insurers will offer at least two levels of cover according to risk; one for the leisure and another for the competition horse for example, which is reflected in the premium you pay.
As your partnership with your horse grows, the level at which you compete is likely to increase as will the associated level of risk. Petplan Equine offers seven levels of cover under different activity groups. Each is based on a range of activities according to their level of risk. For example, retired horses may be insured under Group One while Group Seven covers those involved in more risky activities such as Polo etc. This way, you only pay for the cover you need for the activity you do with your horse. Remember, this can change throughout the life of your horse as your take him up through the levels. For example when starting out in unaffiliated eventing you can insure under Group Four but when you step up to BE100 you should upgrade to Group Five. If you then go onto Advanced Affiliated eventing Group Six will provide the cover you need.
The Petplan Equine team of equestrian experts knows that you may like to try more advanced activities with your horse as your partnership develops before committing to a higher activity level. So it offers the opportunity to upgrade by one activity group free of charge, a total of three times per year allowing you to “try before you buy”.
The actual number of times an upgrade is possible depends upon the number of groups by which you wish to upgrade: you can upgrade one group three times, two groups twice or three groups once in a policy year. It is vital that you make sure your horse is sufficiently fit and you are confident in your horse’s and your own ability at this level.
If you wish to compete more regularly at the new level, you can upgrade to a higher activity level at anytime throughout the year – this applies to all disciplines and activities.
To discuss your cover for your horse, or for further information, simply call the specialist team at Petplan Equine on 0800 980 3905 or visit www.petplanequine.co.uk