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- » Syndicated Horses
- Veterinary Requirements
- When a Problem Occurs
- Product Disclosure Statement (PDS)
- Public Liability
Here are some of the most frequently asked questions concerning the insurance of syndicated horses.
Can I insure my share?
The answer to this question is ‘yes’, members can insure individually. Also on occasions the syndicate manager arranges the insurance on behalf of the entire syndicate and one account is sent to the manager which covers the total value of the horse. The manager in turn adds the premium to each member’s monthly account.
Do many people insure horses?
The answer is ‘yes’, most people insure at least for the first 12 months. Insurance policies are written on an annual basis so that the need to insure can be assessed at each policy expiry.
Horses are high risk. Actuarial studies indicate that you have a 28% or more chance of claiming on your horse than you do on your car. Most cars of course are insured before they leave the showroom and they are a lesser risk than horses. Cars come with guarantees - horses have no guarantee.
Investing in a suitable policy is obviously the way to protect your investment and ensure that funds are available to replace the horse if the worst happens.
What can you claim for?
The policy covers the death of the horse and/or its theft. The most common cover is death by injury closely followed by colic (stomach problems). Leg problems, including the horse’s feet are a concern as you have half a tonne of horse being carried on 4 lightly boned legs; any one of which can be easily injured either at speed or by running into potholes or fences.
Horsewoman Carolyn Jarman says:-
“I have been around horses all my life and in my opinion there is no such thing as a foolproof horse. I have taught riding and handling of horses most of my life and there is always an element of doubt. Some horses can be trusted completely but the human element cannot!!”
To read Carolyn’s full article please refer to – “Safety Around Horses” under News.
How do I pay?
Payment for the premium covering your share in the syndicate must be paid prior to the completion of the syndication.
The premium can be paid by credit card, cheque or by direct deposit into our account.