If you find yourself in a situation where you think you may need to make a claim on your policy, or an incident has happened that you suspect may lead to a claim being made against you, it’s paramount that you contact your specialist insurance broker straight away.
Why you need to contact your insurance broker, even if no formal claim has yet been presented
Even if you are unsure whether or not you are going to make a claim or have a claim made against you, it’s important that you notify your broker of incidents. If you aren’t making a claim at this point in time, you can inform your broker by reporting an incident ‘for information only’ – that can later be used to make a claim.
Delaying notification can have a detrimental impact if a claim is later made, as it is a contractual compliance requirement of most policies to notify your insurance provider immediately. Delays can lead to claims being denied and policies being voided.
As well as adhering to your policy requirements, prompt notification means you can benefit from having the best chance of a successful defence and potentially, faster processing of your claim.
Steps to take if you have an equestrian insurance claim
- Notify your insurance provider
As mentioned above, notifying your insurance provider as soon as possible is the first and most crucial step to take when you face a potential insurance claim.
-
Document the incident
We recommend that you always take detailed notes about what happened as soon as possible, as this provides the most accurate information and evidence.
Include photos or videos of any damage, a list of all involved parties and witnesses, plus other relevant details. More documentation strengthens your claim defence.
Your insurer may request copies of horse assessment forms, rider registration forms, risk assessments, staff training documents, and the accident report book, among other documents, depending on the nature of the incident. Obtaining early witness statements (if available) is always a huge help, too!
-
Cooperate with the claims adjuster
Once your insurance company has been notified, they may send a claims adjuster to assess the damage or situation. Be prepared to provide any requested documents or information.
-
Review your equestrian insurance policy documents
It’s essential to review your insurance policy promptly upon receipt. This helps you learn what is and isn’t covered, and any exclusions. However, many forget the details of their policy until a claim arises. Reviewing the policy again when a claim occurs will help you set expectations during the claims process.
-
Follow up with your equine business insurance broker
Stay in contact with your insurance broker throughout the claims process to ensure everything is progressing smoothly.
-
Do not communicate with the third party or their representatives
In the event of a claim, your broker or insurer should always advise you to avoid conversation with the third party or their representatives.
When a claim is made, it’s important to avoid conversation with the third party or their representatives. This prevents admitting liability or prejudicing the insurer’s position.
By following these steps and contacting your insurance broker early, you can help ensure a smoother claims process and a better outcome for your equestrian business.