HORSES are an expensive hobby/investment and it is important to consider the financial implications should you have an accident/illness involving your horse.

When considering purchasing equine insurance, whether you be a racehorse trainer, a stud owner, a leisure owner or a rider it is important to understand the various types of cover available and the costs involved.

MORTALITY AND THEFT

This covers the market value of the horse if the horse dies, is killed or has to be put down immediately on humane grounds by a vet, as a result of an accident, injury, illness or disease. Cover for theft is also included and payment will be made for the fair market value of the horse at the time of loss/theft.

SURGICAL FEES

Equine owners should ask themselves the question, can I afford veterinary fees to cover/save the life of my horse? Sudden and unforeseen veterinary expenses can be expensive.

This cover has been designed to cover you for the following:

  • Costs of the operation.
  • After surgery veterinary fees and after care.

    • THIRD PARTY LIABILITY

    Third Party Liability Cover is the minimum cover that should be considered irrespective of being an owner as the risks are unknown. This will cover you against your legal liability for damage to third party property and third party compensation claims.

    In addition trainers should also consider taking out a care, custody and control policy. Racehorse trainers are responsible for minding their owners’ horses while in training, and are therefore accountable for the horses’ wellbeing. Trainers should consider their options to ensure they are covered, should an undesirable outcome arise while the horse is in their care.

    Incidents have occurred within the equine industry where the horse owner has taken legal action against a horse trainer or livery yard, due to the horse becoming injured or dying as a result of the horse trainer’s / livery yard’s negligence. Care, Custody, and Control caters for this eventuality.

    Care, Custody, and Control (CCC) equine insurance is applicable for those who are responsible for caring for other people’s horses, whether these horses are in training, in livery, breeding, competing, in transit etc. CCC covers your legal liability should your client’s horse get injured or die as a result of your negligence, whilst in your care.

    It is important to note that most general liability insurance policies exclude coverage for injury or death to any horse in your care, custody or control. Therefore it must be purchased as an extension to an existing policy, or as a stand-alone policy, at an additional charge

    UNSOUNDNESS OF WIND

    Unsoundness of Wind covers insured horses that, during the following year, are then sold at public auction and subsequently returned due to wind problems in accordance with the conditions of sale of the respective sales company.

    LOSS OF USE

    Loss of use means that the horse will never again be able to perform the activity for which it was insured. For instance if a horse is injured and as a result of this injury will be unable to compete at the level to which it did before the injury.

    SHOW JUMPING/EVENTING

    It is particularly important for those who are involved in show jumping/eventing to have some protection for themselves.

    Sometimes accidents just happen and any accident involving your horse may result in you

    (a) Being seriously injured or

    (b) Being legally responsible to pay compensation to third parties.

  • Third party liability cover will cover you against your legal liability to pay compensation to persons injured as a result of your negligence.
  • Personal accident insurance will cover you for loss of income if an injury stops you from working temporarily, and provide a lump sum if you are permanently disabled or die in a riding accident.

    • Insurance is not cheap, however you need to weigh up the costs involved of not having insurance in place should you be in the unfortunate situation of facing a potential claim.

    Mark Phelan, BHP Insurances LTD

    Web: bhpinsurance.ie