One common mistake that horse owners tend to make is to allow their horsebox insurance to lapse as soon as the showjumping and eventing season is over or once the winter seasons begins. However, not using your horsebox for an extended period of time is not reason enough to let your insurance run out.
It is not a farfetched idea that your horsebox could get stolen, and without insurance, you would be in a fix as to how to have it replaced.
Therefore, a better option would to keep your horsebox insurance as low as possible so that you are able to keep up with your payments even when you are not using the horsebox. Here’s how:
Fit Immobilizers
As the word suggests, immobilizers for your horsebox simple ensure that when it is not in use, it cannot easily be moved about without a considerable amount of effort. Better yet, fit in immobilizers and alarms to make it difficult for a thief to steal.
As with car insurance, the presence of immobilizers and alarms will ultimately translate into lower insurance premiums, and afford you more peace of mind.
Store It in a Secure Place
This principle is again borrowed from the world of car insurance. It is a well known fact that if you park your car in a garage the cost of your insurance premium reduces. The same applies to horseboxes.
Therefore, to keep your payments down, store the horsebox in an area with lockable gates, or a lockable barn. Some have gone a step further and installed CCTV in a bid to deter theft, and consequently lower their premiums.
Get the Right Type of Horse Box Insurance
Before acquiring horse box insurance, it is important that you understand your exact requirements. This way you are better placed to take out an insurance policy and package that covers your needs. For instance, if you use your horsebox occasionally, it would be cheaper to take out a policy with mileage limits.
Pay Your Monthly Premiums in A Single Lump Sum
There is usually the option to either your spread out your insurance premiums over the period of a year with monthly premiums or to pay your horse insurance in a single lump sum.
Most would prefer the former option due to the ease of paying lower costs, even if over an extended period of time. However, this convenience comes at an additional price. Therefore, if you are able to pay out your insurance in lump sum, do so. In the long run, you will have paid less.
Shop Around for The Best Deals
Before settling for an insurance company or policy, it is prudent to first shop around to see what else is out there with regard to horsebox insurance. One source of information is online comparison sites that list down the prices offered by various companies, and the contents of each policy.
Another option is insurance brokers, whose value is in their proximity to the industry and are able to provide a wealth of information, though biased, on a variety of insurance companies.
