Policy Excess What Is It?

The majority of horse insurance policies will carry an excess which is determined by you or the insurance company at the inception of the policy.

Excess is a term used to refer to the amount you pay in the event of a horse insurance claim. For example in the event your horse requires veterinary treatment and your policy covers veterinary fees cover then your horse insurance company will pick up the bill, However you will be required to pay the first £125.00 (excess) of any claim.

In this example we have used a standard horse insurance policy excess of £125.00, however you can choose to increase this excess at the start of your policy in return for a saving on your insurance premium. The higher the excess you choose the lower your premium will be in most cases.

It is not unusual for a horse owner to choose a £500 excess which provides them with a good saving on their premium but still makes sure that they have adequate cover should a large claim occur.

When you choose your policy excess it is important that you understand that this is the amount you will be required to pay in the event of a claim.

Each month The Insurance Advisor Equestrian will provide you with some detailed information about arranging and understanding equestrian insurance. It is important when purchasing any type of insurance that you understand the cover you are purchasing and that it covers your requirements. We recommend you always speak to an insurance advisor if you have any doubts about what type of insurance you require.

For more information about horse insurance or to obtain a quotation call 0800 121 4459.

https://www.equestrian-insurance.co.uk
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