Horse insurance: working out why your premium has increased

It's pretty confusing for horse owners when your premium increases despite the fact you haven't made a claim. But, as Charlotte Gibbs, Senior Marketing Executive at Petplan Equine explains, even though you haven't made a claim, your horse's age and physical activity can all impact your insurance policy.  

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A: Vets can now do more for horses and ponies than ever before, but sophisticated diagnostics and medical developments come at a cost, which has had an impact on horse insurance premiums.

In addition, your insurance premium reflects the likelihood of you needing to make a claim. 

If your situation has changed, for example as your horse gets older or if you move up a competition level, you may have seen an increase in premium.

Petplan Equine is a specialist provider of horse insurance and offers a wide range of policies tailored to suit the needs of individual horse owners. 

This means you only insure for the activities you actually take part in and choose the benefits that are useful to you.

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If you're unhappy with any increases in your premium, you should talk to your insurance provider to ensure your cover is appropriate to your circumstances. 

7 things to remember before you buy horse insurance 

  1. You can get quotes from other insurance companies but remember that you usually get what you pay for in the long run, so ask your vet which insurance companies they recommend. 
  2. Ask to see the terms and conditions before taking out your policy, if there’s anything you don’t understand, call them up for further explanation.
  3. Have your horse’s passport number and new yard details to hand as you may be asked for this information.
  4. Ask what the different options of your policy cover as this can differ between companies.
  5. When taking out vet bill cover check to see if hospitalisation fees are covered or if this is an added extra.
  6. Some insurers add a fee of 10% on to the policy if you choose to pay monthly so check to see if yours does this.
  7. Online discounts apply so if you need anything explaining before buying online call who to get your questions answered first, then go online to take the policy out.

Don’t miss the latest issue of Your Horse Magazine, jam-packed with training and veterinary advice, horse-care tips and the latest equestrian products available on shop shelves, on sale now. Find out what’s in the latest issue here.