Horsebox insurance is required by law, but just like any other type of insurance, there are a number of policies and options available to policyholders.
Before purchasing a policy, there are a few things that every potential policyholder must know:
1. Comprehensive Policies Will Provide the Most Coverage
A fully comprehensive policy will provide the most coverage. If involved in an accident, the policy will cover the cost of repair bills – provided the policyholder has a valid claim.
Comprehensive policies are typically the most expensive, but they’re usually worth the additional cost. Along with covering damage to the vehicle, it will also cover:
- Windscreen damage
- Vandalism
- Damage to the vehicle caused by the horse
A third-party policy will be cheaper than a comprehensive policy, but it will only cover the cost of damages to the other party if the accident is the policyholder’s fault. It will also cover losses through theft or fire. However, policyholders will still be responsible for the cost of repairing their own vehicles.
If the horsebox is part of a business operation, the policyholder may need a separate business insurance policy.
2. The Cost of the Policy Will Depend on the Vehicle Size and Value
The cost of a horsebox insurance policy will depend on the value and the size of the vehicle. The bigger and more expensive the vehicle, the higher the premium will be. Newer vehicles will have a lower premium because there’s less of a risk of a new vehicle breaking down.
If policyholders want quality insurance for a horsebox, they can expect to pay a little bit more for complete coverage.
3. There Will be Some Out-of-Pocket Costs
Most policies have what’s called “excess,” which is the amount of money policyholders pay out of pocket when making a claim.
If a policyholder has an excess of £200 and is making a claim for £800, he or she will receive £600 from the insurance carrier. The policyholder will be responsible for the remaining £200.
4. Horses are Not Covered by Horsebox Insurance
It’s important to note that while insurance will cover the cost of damages to the vehicle, it will not cover the horses traveling with the policyholder. Policyholders will need to purchase separate insurance for the horses.
5. Additional Drivers Can be Added to Most Policies
Most insurance providers will allow policyholders to add additional drivers to the policy. If the policyholder is injured or cannot transport the horses for some reason, other drivers listed on the policy can drive the horsebox and still be covered in case of an accident.
