A 'how much'...

_jetset_

_jetset_

Well-Known Member
Joined
16 May 2005
Messages
11,389
Location
Lancashire
Visit site
It is coming time for my insurance renewal for my yearling, and as he is only insured for the price of his stud fee at the moment I think it is time to increase that as I would also like to add loss of use too eventually.

However, I am new to owning a young horse, so would like some ideas on what he would be worth on the open market so I can judge what price to insure him for...

He is 15.1hh at the moment, to make 17hh. He is out of my Elementary dressage mare (unknown breeding, but IDxTB and decent comp record including competing at the Regionals this year) by Pro-Set.

At the 2008 BEF he achieved a 1st Premium as a potential eventer (highest marked yearling at the venue) and a high 2nd Premium as a potential dressage horse, achieving two 8s for his conformation.

Thank you in advance... this is not an advert because he is most definitely not for sale
grin.gif


If you would like to see some photos, CLICK HERE

(also in the Comp riders to get two different perspectives
wink.gif
)
 
Insurance is always a difficult thing to judge, with horses you need to weigh up the cost of insurance against what you would actually do if anything would happen....

eg. Would you breed another from Hannah to replace Troy? If so, work out potential stud fee, vet costs, keep for that year of Han being pregnant etc and come up with a sum which would give you what you want and cover the above costs

or

Would you buy a young horse of similar breeding, age, type etc, and think about how much you would "want" or "need" to pay to get that horse

Increasing your insurance increases your outgoings for an eventuality should it ever happen, so therefore would you rather keep it low, and save your pennies for something else, or pay more, and sacrifice a few other things
 
TBH we only insure for a nominal amount until broken to cover vet fees etc. Then we increase it, but never for their full value we just couldn't afford it. For example one of our homebreds was an advanced eventer and he was insured for £6000.
To me the vet cover is important, if anything drastic happened we'd just have to replace with a young horse.
Loss of use can be a grey area and somme insurance companies only pay a percentage of the value or some take the horse.
 
After what I have been through over the past 10 months, I want to make sure he is insured for his price and also for full vet cover and loss of use. Neither mare have LOU because they can be broodmares should an injury put an end to the activities for which I use them. However, as he is gelded, I made the decision a long time ago to have him insured for LOU, especially with his potential as a competition horse.

I do not think I would breed another (I hate thinking like this) if something happened to him, but would look for something to (again, hate this word because I don't think it represents what I mean) replace him.

I have used over £8000 in ten months from my insurance in vet fees, so do not mind paying a little extra per year because I have already received so much back.
 
I got told that too Pat when we had a yearling that severed a deep digital flexor tendon. (NFU). It was a filly so went on to be a broodmare luckily.
 
[ QUOTE ]
I'm not sure if they will do LOU for an unbroken youngster as at the moment, it doesn't have a job; that's what I have always been told anyway.

[/ QUOTE ]

Thanks Pat, I didn't realise that. Would I be able to add that when he is a 3 year old and backed?
 
[ QUOTE ]
[ QUOTE ]
I'm not sure if they will do LOU for an unbroken youngster as at the moment, it doesn't have a job; that's what I have always been told anyway.

[/ QUOTE ]

Thanks Pat, I didn't realise that. Would I be able to add that when he is a 3 year old and backed?

[/ QUOTE ]

LOU is generally set against a genuine purpose a horse has- for instance you insure the horse for LOU as an eventer and if it gets a injury serious enough to stop it eventing, you get money. They may well put ther clauses on it such as if the horse cant event but could be a hack, they only give back 75% insured value etc.

I think it would be hard to prove that a just backed 3 year old has 'a job' but speak to your insurance company
 
I had mine insured for LOU from when I bought him as a 2yo, but the LOU was as a breeding stallion, in case he turned out to be infertile or something, and as an in-hand show horse - although insurance companies won't pay out LOU for 'blemishes' - not even for, say, a big scar that would ruin a horse's chances in the show ring! Well, maybe they would on a horse that had no other purpose, but if it's also used for breeding they would say it could still breed therefore no payout.

I have removed the LOU element from my insurance this year - he's now 4 and proven v fertile, etc., plus it was doubling my already astronomical insurance premium so I just didn't feel it was worth it.
 
Thanks, will have a chat to my insurance about the LOU as when he has been backed he will have a job as I aim to take him to the BD Young Horse classes (perhaps even the Young Event Horse classes too if I can find someone to jump him for me). So from when he is backed, LOU will be pretty important to me as he will have a purpose in life
wink.gif


The stud fee was £850 plus everything else (including vet package) was around £1,500. He was professionally produced for showing and is registered SHB (GB). The vet at the Futurity said I should take him to the Sports Horse classes because he has very good conformation as a sports horse and hunter (I am rubbish at young horse conformation, so have no idea
grin.gif
).

I may do that next year... so again, he would have a job with that and the Futurity???
 
You must log in or register to reply here.
Top