Another how much (pleeeease!), and insurance help!

Firewell

Firewell

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I got my insurance renewal form through this morning. Iv'e always insured any horse at a blanket 3k to keep premiums low. However after my disastrous horse buying experience earlier on in the yr I dont think I could replace my mare for this amount..

Question 1. Should I put her worth as higher and pay higher premiums, or should i leave it the same?

Question 2. What do you think the market value of my horse is?? (i have a feeling i would waaay overestimate this as i love her so much!)

She is a 15.3 grey 9yr old TB mare by Bobs Return.
Competed and placed unaff XC/SJ/DR/Showing.
Dr- 60's/70's prelim and novice and has been placed every time out this year bar once (sheets to prove this). 6th at unaff champs of GB dressage. Ready to affiliate BD.
Showjumping for 2 years unaff she got no more than 4 faults.
Handful of BSJA shows with clear rounds BN height. Any faults SJ are rider error. Scopey jump, pops 1m30 loose.

Jumps ditches, water, fillers ect never phased by anything spooky. Consistent at every discipline and would affiliate and go up grades easily in whatever you wanted or just be a rc schoolmistress.

Is great with sponsored rides/beach rides ect. 100% to hack alone/co with heavy traffic, goes front or behind.
100% with other horses/handle/clip/load/shows ect.

Not suitable for a complete novice as she is a sensitive TB but she will never buck/rear/bolt/kick/bite/do anything to make you fall off! (have never fallen off her in the 4yrs i have owned her *touches wood frantically*)

Her only quirk is that she can sometimes be fussy with the farrier but its nothing a bucket of feed cant solve!

Shes the one in my siggy and in the pictures below
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Thanks!

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Id say stay as you are as a safety net, not too much, maybe a bit low.....

However if you drastically increase her value the insurance company may be a bit like hmmmmm
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I would say £3k or £4k but I'm not very good at this!

But I would say if I was looking for a great RC horse, she would be perfect (if not a bit small for me) and I would pay up to £4k for a horse like this.
 
I i wasnt thinking a drastic increase!! Maybe 5k...

I just had this horrible thought, what if i lost her and all i got was 3k when all 4k seemed to buy me last time was either something too young, lame or hadnt done much!

Maybe i'll ask the people who know her at my yard
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Thanks though!!
 
My OH has just said 'your not increasing the value, i'll top it up if ever the worst happens' Lol.

Im just panicking! I know shes not worth tons as she doesnt have much of an ffiliated record (not yet anyway!) but when I looked there were such donkeys for 3k! A beautiful, safe, talented allrounder seemed to be not under 5k!

I'll stop worrying, and maybe i'll speak to KBIS if continue to do so.

Thanks everyone
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There are soooo many horses out there for sale by Bobs return with just the same sort of temperment and easy nature- you could probably pick up a similar one for £1k at the racehorse sales that has not got this competition record, but would go straight out with you and just do the job in whatever sphere you wanted to do. She is lovely tho! I'd say cos she has not competed affiliated in any sphere she would be worth £4k at the mo.
 
I'm a cynic, but here's what I think!

To get a LOU payout, you have to meet strict BEVA guidelines. If you don't meet these, you'll get nowt and your premiums would be wasted.

I would drop LOU, put the saved premium in a separate bank account and if the worst does happen, you'll have a stash to go towards another horse.

I think I'm right in saying that you would have to have a 5* vetting to increase the value. What I'm not sure is if this only has to happen over a certain value.
 
I have only insured Rafi for what I could buy a yearling for , as we bought him as one and I really only want the insurance for the vets fees. I couldn't afford the premiums for what he is worth[ about 10x that] . If anything happened then I would save on not having to keep him and put that money away. I also can't afford lose of use , I was told if I wanted to have him insured for more than I paid for him as a yearling then I would have to have a vetting as I had owned him for 5 years before taking out insurance
 
I really love your mare & would way she was probably worth 4.5k. When I was looking earlier this year, there really wasn't much decent for less than 4k.

However, I only insure mine for what I paid (as 3 & 4 year olds) & don't have loss of use. That still costs me £800 a year for two. It's very rare you'll get a payout for loss of animal & loss of use puts the premium up loads!
 
Unless you are insuring for loss of use there is very little point in increasing her value - and you may not persuade them to change it much without competition proof and vetting. They rarely seem to pay out value, it will only happen if the horse drops down dead, breaks a leg, has inopperable colic. Most horses end up with something more slowly degenerative than that that at some point you deicde their quality of life is affected and choose to PTS or take your vets advice that they should be PTS - in none of these conditions will you get anything.

Insurance companies getting wise to people dropping the value though as just tried to do that with mine having had him insured at purchase value for couple of years and they would only drop it slightly
 
The thing is, you're never going to replace the EXACT horse and the things that usually draw people to a "fun" type horse are the intangibles, like temperament and ridability, rather than the things that up price, like affiliated results. If you have a horse for competition requirements and would need to replace with a horse at a similar "known" level then it's possibly worth valuing for re-purchase price but if you want a horse for you, even if competing is part of it, it's much trickier to value. It sounds like your horse is valued for more or less the price range to replace her (after all, that's what you bought HER for) and, as OB says, in fact you know more about what you want now, from having her, and could possibly find a similar horse for less money if you had to go out and do it again.
 
With no affiliated record as such I would say she's worth about what you've got her insured for and would leave it at this.
 
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