Let your broker do the legwork! - Ravenhall Rural

Ravenhall Rural

Let your broker do the legwork!
February 25, 2021

As an Insurance Broker, the role of Ravenhall Rural is to ensure that your insurance policy is both cost effective and fit for purpose. As a team, we understand many of the functions and responsibilities involved with equestrian businesses. The Rural team consists of horse riders, owners and enthusiasts. Our team take the time to get to know you, and your individual circumstances.

As a business, we understand that we are all in unfamiliar ground and faced with many barriers during lockdown. As we are starting to see some of these restrictions ease, cost and peace of mind is paramount. Insurance is about protecting you, your business and livelihood from risk. Our experienced brokers will speak to you about the risk, cover options and ways that you can review your policy to ensure that it meets your requirements.

Take a look on our 5 top tips for ensuring your business has the right level of protection.

Understanding the risk

The team at Ravenhall Rural would always recommend that you keep regular risk assessments specific to your business. These records should be suited to your business and kept up to date. Maintaining this documentation will help our team to defend your claim and ensure that we are working in the best interest of our client. Our team will guide you as to what is needed so that you have a good understanding of the risks and how to minimise cost in the result of a claim.

Common costs incurred

As a horse or equestrian business owner, one of your biggest expenses could be the veterinary fees. Depending on your horse’s age, breed, history and the type of activities they do, you can gain a good understanding of the vet fees you’re likely to incur from your account manager. We may ask you questions about any previous illnesses or injuries to ensure that your policy reflects the likely occurrences in veterinary fees.

Another area to consider when you are reviewing veterinary fees in your policy, is the excess. Taking a higher excess will bring down the premium, however it’s important to consider what amount is manageable, should you need to make a claim. You want to ensure that the policy covers the likely fees and allows you to make a claim when you need it.

More than just a ‘bolt on’

The equestrian business policy from Ravenhall Rural works differently to some products on the market today. Your broker will adapt your policy to suit what your business does, your space and buildings, and how it operates. Therefore, whether you’re a freelance instructor, operate a livery or competition yard or are a riding school, the policy will reflect your individual needs.

Keeping track of renewals

Equine business property insurance covers the buildings and all contents for your business. This includes all commercial buildings, to stables and barns to the arena, tools and equipment, tack, machinery, and plant. Your account manager can incorporate residential accommodation and contents cover for proposer or staff if needed. It is important to ensure that the sums insured are correct and up to date. Most importantly at renewals as it can be easy to forget some details and after a couple of years the property could be underinsured.

Breaking it all down

When you have a better understanding of your policy, you’re likely to have more confidence in having protection in place when you need it. Your insurer within the team would be happy to break down the premium so that you can understand where your money is going. If you have any questions, we’re here to help.

Ravenhall Rural is part of Ravenhall Risk Solutions, a Chartered Insurance Broker. Our team take pride in what they do, and the service they offer. Get in touch if you would like to hear more.