As riders our main focus is usually our horses and we forget about putting cover in place for ourselves, despite the unpredictable nature of horses.
Personal Accident Insurance is, therefore, an important consideration whether you are a professional or amateur rider.
There are many different policies available covering personal accident and it’s important to consider your situation, are you employed or self-employed and do you ride for a living? The answer to this will affect the type of policy you are looking for. As an equestrian, it is also important to make sure the policy meets your needs and covers the activities you participate in. At KBIS we have a range of equestrian specific personal accident insurance policies and below we will explain the different cover options we can offer.
A cost-effective way of buying personal accident cover would be to add it to a horse policy (with prices starting at £13 plus IPT per year); due to the low cost of this cover, it is limited and will only cover death, permanent disability and some dental work. Cover is in place when you are riding or handling the horse named in the schedule and also extends to cover anyone else riding or handling your horse with your permission.
If you are riding multiple horses, it may be worth considering a standalone personal accident policy that will cover you whilst riding any horse. Standalone policies also offer more comprehensive cover, such as weekly benefits if you are unable to work due to an injury. This is especially important if you would find yourself in a financially difficult position should you be off work for a prolonged period of time.
The KBIS standalone personal accident policy offers a lump sum payment for death, loss of limbs or sight, permanent disability and dental work not provided on the NHS (mainly cosmetic) which is required due to an accident. It also offers weekly payments if you are off work due to accident or sickness allowing you to receive an income above what you would receive on statutory sick pay. The weekly benefits are linked to your actual weekly earnings meaning that you will not be able to claim for more than you would earn if you were at work, which is why we offer different levels of cover so that you can choose the most appropriate level for you. This benefit which is referred to as temporary total disablement is the most claimed upon part of the policy and is therefore the most important part of the cover for equestrian professionals and individuals who run their own businesses or work on a freelance basis. Further to this, cover is in place 24 hours a day 365 days a year anywhere in the world and isn’t just restricted to equestrian activities. You can choose from 3 levels of cover as well as a Junior option, offering different levels of premium to suit your budget.
KBIS also offer personal accident policies in association with the British Grooms Association and British Eventing.
If you are a member of British Eventing you can purchase a policy which offers cover whilst riding, whether competing or riding at home. This offers lump sum payments following injuries as well as weekly payments should you be off work due to an accident. This policy has the benefit that the weekly payment you choose doesn’t need to reflect the amount you actually earn unlike the KBIS policy.
If you are a member of the British Grooms Association you can purchase a policy to cover any accidents you have whilst at work, whether riding or on the ground. This can be extended to cover you whilst riding for pleasure purposes as well. This policy offers lump sum payments following injuries as well as weekly benefits should you be off work due to injury, these payments are linked to actual weekly earnings. Further to this, the policy offers a benefit should you have stay in hospital for 24 hours or longer.
As you can see there are a number of options that we offer and different policies will suit different people. If you would like to discuss any of the above policies or have any queries about personal accident insurance, please contact us on 0345 230 2323.