Tack Insurance - What you need to know
The contents of your tack room can represent a hefty investment – custom saddles, bespoke bridles, rugs, clippers, all add up to a sizeable investment. Do you have the spare funds to replacement them in the event of a break-in, fire, or flood? If the answer is no, then tack and contents insurance is an area to give serious consideration.
How to insure
Insuring tack can be done in several ways, as an addition to a horse insurance policy, as a standalone policy, as an addition to a household policy or as part of an equestrian buildings policy.
The most common way we see people insuring their tack is as part of their horse insurance policy, however there is a £3,500 limit which may therefore exclude a number of higher value saddles.
For those with higher value saddlery we’d recommend a ‘tack room’ policy where much higher values of saddlery, and equipment, are able to be insured under one simple policy.
Insuring your saddle as part of a house insurance policy is a cost-effective option. You need to check your policy wording to ensure that there isn’t a single item value limit and would also need to check that where the saddle is kept meets the requirements of the house insurance policy. Some policies may stipulate that it needs to be stored in a room or building that is connected to the house. Those with tack rooms that are separate or in a different location would then need to look for additional cover.
Tack rooms or storage lockers need to be locked with a 5-lever mortice lock to be covered by insurance. In the event of a theft, it needs to be proven that the room was locked, in such a way, at the time of the theft. Some tack room policies will also require an alarm system as well. Depending on the level of cover sought this may be a bells alarm only, or an alarm that is linked to call-centre/emergency services.
When taking saddlery and equipment out and about it is important to consider how it is stored. Some cover will only be applicable if it is still secured with a 5-lever mortice lock. Other forms of cover would be dependent upon horsebox/trailer/car insurance policies.
Having a saddle security marked can help identify the saddle in the event of a theft.
For more information on Tack Insurance or to secure your Equestrian Property Insurance contact the team today via email@example.com or 01992 718 666