Sponsored content in collaboration with The Insurance EmporiumTaking out a horse insurance policy is a part of horse ownership that you might want to consider. We tend to think that the worst wont happen, but as magnificent and intelligent as they are, horses are still animals large animals that can often be unpredictable. Theyre also not the cheapest animal to own; once youve factored in the initial cost of buying them youve then got livery costs, feed, forage and bedding to cover, plus worming treatments, dental check-ups, farrier costs and transport. You then have to consider the costs involved if they were to go missing, or become seriously ill, or even damage someone elses property.While you cant put a price on having the peace of mind of knowing you could be covered if the unexpected were to happen, insurance is often way down the list of priorities and its tempting to whizz through your policy wording after all, its not the most fascinating of reads!But its important to know what your policy covers, particularly as, depending on your policy type, there may be exclusions/conditions that wont be covered that youre not aware of. Here, the experts at The Insurance Emporium explain the most common mistakes people make when taking out horse insurance.1 Insuring for the wrong type of equestrian activityWhen taking out a policy, youll need to specify the type of equestrian activity youll be using your horse for, as this could have an impact on your cover, as well as your premium. For example, a horse used for hunting or polo could be at higher risk of injury, and if an injury occurs while taking part in an activity not included in your specified type of activity, you may not be covered.2 Non-disclosureWhen you take out an insurance policy you need to provide the right information so that the insurer can accurately assess any risks and decide on your level of cover and insurance premium. If you dont disclose certain information, such as a pre-existing condition, then your policy might not be valid. For example, if your policy includes vets fees cover, when you come to make a claim youll need to complete a claims form, provide a detailed vets report and a full medical history.If this highlights any previous illnesses, injuries or conditions that should have been declared, your claim could be rejected, or your policy could be cancelled. You also need to keep your insurer aware of any changes to any information youve given.3 Not providing a horse-safe environmentWhile it makes sense to ensure that your horse has somewhere safe to graze, did you know that the type of fencing you use could affect an insurance claim? There may be exclusions on claims for injuries your horse sustains in a field that has barbed wire fencing, or stock or plain wire fencing, as it could be viewed as a preventable risk. Its the responsibility of the owner to provide a safe paddock with appropriate fencing.Injury to a horse turned out in a field with unsuitable fencing could be deemed a preventable risk4 Overvaluing your horseIts important that you insure your horse for its current market value and check this annually. Going for a higher policy value doesnt mean youll get better cover, as claims will either be paid up to 100% of the sum insured or the horses market value, whichever is less. Think of it in the same way as a car depreciating in value whatever you paid for it new, it might not be worth that much a couple of years down the line, and you could end up paying a higher premium on your insurance. The same goes for if your horses value goes up, for example due to success in competitions. Your insurer needs to know so that you know you have the correct cover in place.5 Making a claim too soonNot all insurance policies offer immediate protection. Some providers have a 14-day exclusion period during which claims for illnesses/conditions that show clinical signs, or develop within those two weeks, wont be covered. During this period, only external injuries as a result of an accident are covered. This is to reduce fraudulent claims, or pre-existing conditions that could lead to a greater number of claims. Its a good idea to have insurance in place from the day you purchase your horse, so you know you have the cover you need from day one.Flexible policies to choose fromSorting out insurance isnt the most exciting of jobs when youre buying a horse, but its worth getting it right and this includes going through the small print. The Insurance Emporium has a range of flexible horse insurance policies, and each one comes with Death, Theft or Straying as a standard benefit. You then choose the optional benefits you want to add, for example, Vets Fees or Public Liability. They have a team of specialists on hand to talk you through everything you need to consider so give them a call on 03300 244 005. Or, if youd rather an online version, take a look at their website as they offer a digital solution from purchase to claim.Lifestyle Policy Limited is an appointed representative of The Equine and Livestock Insurance Company Limited. The Insurance Emporium is a trading name of The Equine and Livestock Insurance Company Limited (registered in England and Wales no: 294940) which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority no:202748. All content provided on this blog is for informational purposes only. We make no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. We will not be liable for any errors or omissions in this information nor for the availability of this information. We will not be liable for any loss, injury, or damage arising from the display or use of this information. This policy is subject to change at any time.We offer a variety of cover levels, so please check the policy cover suits your needs before purchasing. For your protection, please ensure you read the Insurance Product Information Document (IPID) and policy wording, for information on policy exclusions and limitations.Images ShutterstockRelated contentThese are the 7 most common horse-related insurance claims *Ad feature*Expert guide to public liability insurance for horse riders *Ad feature*What does Death of Horse insurance actually cover? Experts explain *Ad feature*Top tips for choosing the most appropriate insurance policy for you and your horse *Ad feature*The post 5 common mistakes to avoid when taking out horse insurance *Ad feature* appeared first on Your Horse.