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Owners admit they’d rather make sacrifices in challenging times than see their horses go without, survey finds
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Three in five owners have seen a recent rise in livery costs but majority are desperate to avoid scrimping on their equine’s care – that’s what findings from a recent survey would suggest
With the cost-of-living crisis and increase in interest rates on everyone’s mind, it’s not surprising that it’s a time of anxiety for many horse owners, particularly those who keep their horses on livery yards. To find out just how hard the situation is biting, SEIB Insurance Brokers recently commissioned a survey of livery yard owners and their clients, focusing on the impact of rising costs.
More than 1,400 people across the UK took part in the survey and the results showed that, while livery yard owners said they were feeling the squeeze through higher costs across all aspects of their businesses, they were reluctant to raise their charges because they were aware that owners too were struggling to meet their bills and couldn’t afford to pay more.
As for the owners themselves, they responded that, despite working to a tight budget, they were more likely to make personal sacrifices to ensure their horses continued to have everything they needed.
Says SEIB social media executive, Georgina Dewar, these included turning down their heating, reducing supermarket spending and cutting back on socialising. “Doing these things a few times over a short period is straightforward, however, over the long-term, it could have a big impact on mental health,” she added. Many people are competing less, too.
However, many people are turning to less frequent physiotherapy appointments, leaving longer gaps between shoeing or trimming and some are cutting back on saddle-fitting professionals. Although fewer people said they’d delay their equine dentist appointments, one respondent commented: “We are cutting back on physio appointments as my pony isn’t in a lot of work at the moment. In my opinion, these are less important than routine veterinary and dental appointments.”
Jim Eyre, Chief Executive, British Equestrian, the national governing body of equestrian sport in Britain, said: “There’s little doubt that all of us are feeling the impact of the cost-of-living crisis as we search for ways to save money where possible. For horse owners, this comes with added concerns around equine welfare as owners have to make difficult decisions, often without all the detail to make informed decisions. We would encourage every owner to carefully consider the lasting impact of any decisions and that you do your research fully ahead of making any changes.”
One positive that came from the survey, though, is that even with all things considered over 90% of respondents were pleased they bought their horse and would do so again being fully aware of the cost.
When it came to looking at increases in livery charges over the past few months, of the 1,137 horse owners who answered questions on this topic specifically, nearly 40% said they had, as yet, not experienced an increase in livery fees. A further 40% reported a rise of between £5 and £30 per month, while the remaining 20% had seen their monthly livery bill go up by £30 or more.