Here is a glossary of terminology that have regular use in the horse insurance sector. This section may be useful as you browse through the pages on our site and need clarification.

Death or slaughter

In the case of death, insurers will pay out a lump sum amount to the horse owner. The payout is the lesser of the insured value or market value of the horse.


The word equine is simply another name for a horse or other member of the horse family. Equine insurance similarly is another name for horse insurance.


The excess on an insurance policy is the first portion of a claim that the policyholder pays before the insurer pays out on the remainder of the claim. Excess levels are defined in the policy schedule, and the level of the excess typically has an impact on the premium paid.

Permanent loss of use

A horse insures according to the activities or purposes used. If it can no longer perform the duties of its insured use, insurers will compensate the horse owner with a percentage of the horse’s value.

Personal accident cover

If the policyholder is involved in an accident when riding their horse, personal accident provides financial cover. An accident may result in an injury, that prevents you from working, loss of limbs or even death. Personal accident offers financial protection against these scenarios.


The premium is the cost of horse insurance cover paid either on a monthly or annual basis. Insurance premiums are affected by factors including the horse-related activities involved in and the age of the horse.

Theft and straying

If a horse is stolen or strays, the insurers will compensate the policyholder for the insured value or market value of the horse(whichever is less). There is a minimum time limit before a claim pays out, and this can be from 28 days of the incident.


In horse insurance, a third party is someone other than the two parties who are involved in the insurance contract. The insurer is the first party, and the policyholder is the second party. Third-party insurance, also known as public liability, protects the policyholder against injury to a member of the public or damage to a property caused by their insured horse.

Veteran horse

A veteran horse is an older horse, and at fifteen years or older is classified as a veteran. A twenty-year-old horse is the equivalent of a sixty-year-old human. For insurance purposes, as a horse gets to veteran age, some insurers impose limits on the type of cover available compared to a younger horse.