The eventing and showjumping season may be coming to an end, but there’s still plenty of financial worth tied up in your horsebox. Insurance should never be allowed to lapse, even when you’re not using your box to transport animals to events or shows. So how can you keep the cost of insuring your horsebox down, especially when you’re not using it?
Before we look at the ‘dos’, here’s one very important ‘don’t’ to remember – don’t be tempted to let your insurance lapse over the winter months. Once your horsebox has been parked up for the year it can be very easy to let your insurance run out. But with thefts on the increase, especially in rural areas, it’s crucial to maintain your insurance cover all year round. After all; could you afford to replace a horsebox if it was stolen, without at least some financial help from an insurance policy? It’s doubtful, especially as horseboxes can run into the thousands of pounds, even for a second-hand hitch-and-tow box.
So that’s the ‘don’t’ out of the way, now here are our 5 top tips to keep your insurance costs down:
#1 – Fit immobilisers
Alarms and immobilisers can slash the cost of car insurance, and they can do the same for your horsebox cover too. The harder you make it for a thief to steal your horsebox, the more the insurance provider likes it! So make them happy and your premiums lower by investing in an immobiliser. Not only will this save you money on your horsebox insurance premiums, but it will give you peace of mind too.
#2 – Store it in a secure place
If you park your car in a garage, the insurance premiums can be dramatically reduced. The same rule applies for horseboxes. If you store your horsebox in a locked barn then your premiums can drop. Even a lockable gate between your horsebox and any access road can make a difference to how much you have to pay, so during the winter months make sure your horsebox is stored in as secure a place as possible. Installing CCTV may also help to reduce your insurance costs, as well as deterring potential thieves.
#3 – Spread your costs with monthly premiums, or pay a single lump sum?
You usually have two options when it comes to paying your horsebox insurance – spreading the cost over a year with monthly premiums, or paying in a single lump sum. While spreading your payments over the year may seem easier on the wallet, remember that you will pay extra for the privilege. So while paying for your annual insurance cover in one go might leave a hole in your budget for the month, you will actually end up paying less than you would with a monthly payment plan.
#4 – Shop around for the best deals
Price comparison sites now give consumers much greater control over how much they pay for their insurance, but sometimes you only get a limited amount of information on a comparison site. For specialist insurance such as horsebox cover, it may be better to talk to a broker who can use their position within the industry to find you a better deal. That doesn’t mean you should avoid using comparison sites, but make sure you explore all your options before making a decision.
#5 – Get the right type of horsebox insurance
Horsebox insurance is an expanding market, which means that there are numerous different deals, policies and packages on offer. So it’s important to ensure you get the right type of cover for your exact needs, and don’t end up paying extra for insurance that really doesn’t suit your requirements. For example, look out for policies with mileage limits if you only use the box occasionally – they can be far cheaper than general cover. And if you are planning to travel abroad with your horsebox then it’s absolutely essential to check that your insurance covers you once you leave the UK.