08 January 2008 09:26
What do you think of me contributing a ‘disaster fund’ instead of having an insurance policy? I’ve rarely claimed on my insurance in 12 years of horse ownership, so I’m sure I’d save money in the long run.
Answer
By Your Horse
With no knowing what’s around the corner, it’s not easy to weigh up the pros and cons of insurance cover. And even with extensive insurance it’s impossible to protect against every eventuality, so a small ‘disaster fund’ set aside may provide an extra financial cushion. However, it would be better to have it in addition to insurance cover, rather than instead!
When you’re reviewing your finances and considering whether or what to insure, consider the impact of one of those ‘scrapes’ on your bank balance and your emotions. If you wish to make sure your horse gets the best vet treatment possible, can you afford not to be insured?