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Many of us dream of owning a young horse and producing it ourselves. Anyone who has done this knows it takes time and money, so it’s worth safeguarding that investment by taking out insurance. We’ve asked Charlotte Collyer, senior marketing executive with the UK’s leading specialist equine insurance company, Petplan Equine, to share her expertise on what to take into account when insuring your young horse.

Investing for the future

Whether you’ve bought or bred your horse there will be a period of starting and schooling before you can enjoy riding and competing. While this requires a significant investment in time, expertise and commitment, it can be extremely rewarding. It is important to protect your investment and a good way of avoiding the added expense of vet bills or other unexpected costs, is to take out insurance. Your horse will change over time and so will the activities you will do with him, and as his value is likely to increase it is important choose an insurer that will allow you to make necessary adjustments to your policy as you go along.

Tailored policies

Choose a specialist equine insurer who knows what is involved in rearing and producing the young horse that could impact on your insurance needs along the way.

Many such insurers offer various aspects of cover to choose from, such as: third party liability to personal accident, saddlery and tack to horse theft, as well as vet fee cover among others. This choice allows you to tailor your policy according to what you actually need.

Some insurers offer cover at different activity levels according to risk. The lower the risk, the lower the premium you pay. So, when insuring your un-backed youngster, make sure your policy initially covers you for low risk activities such as horses at grass and breeding. As this level is lower than it would be for a horse in work, the premium will be lower.

Insurance should keep pace with your horse

When the time comes to back your young horse it will be necessary to increase your policy to a level that covers activities such as rearing and breaking. Petplan Equine’s Level 3 Activities policy provides such protection. As it also covers activities most of us are likely to do with a young horse, - e.g. schooling, pony or riding club, and local shows - it is likely that you will not need to increase your cover for some time. But for those of you aiming for a bit more levels 4 to 7 are available which covers from Low level competition to Advanced Eventing or polo.

The right sum insured

Remember, as your horse’s level of experience increases, so too does his value. For example, if he was valued at around £1,500 as an unbroken three year-old, once broken in and ‘working’ his new worth may have risen to around £2,500. Some insurers, like Petplan Equine, will allow you to increase the sum for which your horse is insured by up to £1000 per year without having any formal justification. Others may not so it is important to check with your insurer.

The next milestone will be when your horse begins competing. Again, it is reasonable to assume a further increase in your horse’s value at this stage so this is another time to contact your insurer and bring your policy up to date.

So, while you are enjoying producing your young horse, remember that your insurance needs will change, as will the sum for which your horse is insured. Ensuring that you have the right cover and that your policy accurately reflects the increase in his value over time will give you the peace of mind that comes with knowing that, should you need to make a claim, you will be properly covered.

For further information on Petplan Equine and their range of insurance policies visit www.petplanequine.co.uk.

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For more information please contact:

Name	Telephone	Email
Charlotte Collyer	0208 707 8335	[email protected]

Petplan Equine is the UK's leading horse insurance provider offering a wide variety of flexible horse insurance and rider insurance policies which cater for all levels of experience.

Established more than 20 years ago, Petplan Equine is part of Allianz Insurance, one of the largest general insurers in the world.

For more information about a Petplan Equine horse insurance policy, please visit:
petplanequine.co.uk/insurance/quote.asp

Note to editors:

• Petplan Equine was founded in 1988.
• It is part of Allianz Animal Health, the largest provider of animal health insurance in the world and part of Allianz – one of the largest general insurers in the UK.
• In addition to horse and pony insurance options, Petplan Equine provides dedicated products for veteran horses and rider only insurance cover.
• It is the sister brand of Petplan, the largest provider of small animal insurance in the UK.
• Petplan Equine believes in supporting the equine community and provides more financial support to equestrian sports and activities than any equine insurance provider in the UK.
• The Pet Plan Charitable Trust was founded in 1994 to raise much needed funds for animal welfare and veterinary projects. Money is raised by Petplan and Petplan Equine customers giving an optional £1.50 to the Trust when they take out or renew their policy. To date, almost £5 million has been awarded by the Trust.
• Petplan and Petplan Equine are specialist insurers. As such, the company employs more horse riders and owners than any other and more former veterinary practice staff than any other to ensure the provision of specialist knowledge.
• Redwings Horse Sanctuary is the UK’s largest horse sanctuary, caring for over 1200 rescued horses at its nine sites around the country, with 500 more living in happy Guardian homes across East Anglia. The charity is entirely funded by public donation. Find out more at www.redwings.co.uk.