Birker2020
Well-Known Member
Just curious.
Thanks
Thanks
Anyone know how market value is calculated on a non ridden retired horse?
- Thread starter Birker2020
- Start date
ihatework
Well-Known Member
Market value is what someone would pay on the open market for the horse. For lame retired ones this is usually meat money.
I had a LOU payout on one a few years back that was still hackable. He was valued at 1k by insurance company and I felt that fair.
I had a LOU payout on one a few years back that was still hackable. He was valued at 1k by insurance company and I felt that fair.
nagblagger
Well-Known Member
Why don't you ask your insurance company what they would actually pay out for him, then you can decide whether it's worth continuing with his insurance.
(i presume this is following on from your other thread)
(i presume this is following on from your other thread)
bonny
Well-Known Member
I suspect they would just give a wishy washy answer along the lines of whatever the market value was at the time. Insurance companies are happy for you to value your horse/car whatever at what price you put on them knowing that the figure will be ignored if you make a claim.
Birker2020
Well-Known Member
I already have asked as I put in my other post but the lady couldn't advise. Like Bonny said it was very wishy washy answers.
J&S
Well-Known Member
I have one of those outside my window right now and I calculate that her worth is well into the minus! However, she has done us proud in the past so here she stays until the end.
Birker2020
Well-Known Member
Last edited:
poiuytrewq
Well-Known Member
Are you just wanting to insure for vets fees or death?
I insure for a nominal amount, it keeps the premiums down and I’m covered for the vets fees but if I loose my horse I won’t get anywhere near what he’s worth/I paid. I’d take that on the chin. It’s the vets fees I’m concerned about.
I’m fact the last horse I lost (kicked and broke his leg so definitely covered) it didn’t even occur to me to claim at the time.
It was only a month or so later after the policy was cancelled someone asked me if they had paid out
I insure for a nominal amount, it keeps the premiums down and I’m covered for the vets fees but if I loose my horse I won’t get anywhere near what he’s worth/I paid. I’d take that on the chin. It’s the vets fees I’m concerned about.
I’m fact the last horse I lost (kicked and broke his leg so definitely covered) it didn’t even occur to me to claim at the time.
It was only a month or so later after the policy was cancelled someone asked me if they had paid out
AdorableAlice
Well-Known Member
Meat money subject to them not being signed out. Nothing if they are signed out. The most a lame/none ridden horse can hope for is a kind end with a person who cares.
The number of adverts on the various platforms showing old and knackered horses for sale as companions is heart breaking. It is a very fortunate horse that finds himself in a happy retirement with his needs being met.
The number of adverts on the various platforms showing old and knackered horses for sale as companions is heart breaking. It is a very fortunate horse that finds himself in a happy retirement with his needs being met.
Sossigpoker
Well-Known Member
I just advertised looking for a companion pony and was inundated with offers from anything from TBs to cobs to ponies. Some of them lame , some of them old (one was 28!) and some of them with things like sarcoids.
Really, really depressing.
Really, really depressing.
Cortez
Tough but Fair
Currently I think it's around £3.40 per kg.
ycbm
Einstein would be proud of my Insanity...
Lari's market value is zero I'm afraid B. He is much bigger than most people will take on as a companion, he isn't rideable, and I'm sure you have him signed out of the food chain and wouldn't let him go for meat even if he could.
I don't believe your insurers will pay out more than a fraction of what they have happily insured him for, and only then if he drops dead or you can meet the BEVA guidelines, which are set far to high for many people to wait to be achieved.
You don't have any vet fee cover.
Red's suggestion on your other thread to go with WHW will give you a lot better cover.
.
I don't believe your insurers will pay out more than a fraction of what they have happily insured him for, and only then if he drops dead or you can meet the BEVA guidelines, which are set far to high for many people to wait to be achieved.
You don't have any vet fee cover.
Red's suggestion on your other thread to go with WHW will give you a lot better cover.
.
Birker2020
Well-Known Member
Vet fees for external visible wounds only I think SEIB said on last renewal - Oct 2022. But they won't even insure me for that now so I think any insurance company would be the same.
The fact SEIB stopped covering him for vets fees proves they think he's a bad risk.
I might ring WHW and find out as Reds suggestion.
SEL
Well-Known Member
My retired lame, PSSM one is on Harry Hall external injures policy along with the uninsurable but rideable pony. It's pretty reasonable.
TheMule
Well-Known Member
His value is £0
The insurance will pay out at most £500 I would guess. Because you could probably trawl up some evidence somewhere of someone selling a companion for that much, though I personally think it would be a battle.
Why would he have any value beyond some sentimental value for you?
The insurance will pay out at most £500 I would guess. Because you could probably trawl up some evidence somewhere of someone selling a companion for that much, though I personally think it would be a battle.
Why would he have any value beyond some sentimental value for you?
Birker2020
Well-Known Member
Sorry I think you misunderstood. When I mentioned meat money I meant the equivalent value so that the insurance would establish a market value price..
I would never contemplate selling one of mine for 'actual meat money even if it were possible.
Tiddlypom
Carries on creakily
As other posters have said, and which I'd forgotten is current practice, you've almost certainly signed him out of the food chain on his passport, so his carcass would have no monetary value anyway. That is necessary now before vets will prescribe many very common types of medication, it is no longer enough to have a withdrawal period before slaughter. His body would need to be incinerated. He has no monetary value as a non ridden companion, either, though he may well be priceless to you.
The alternative policy with coverage for external signs of injury is well worth looking into.
The alternative policy with coverage for external signs of injury is well worth looking into.
Birker2020
Well-Known Member
No he wouldn't have any value. But you are guessing £500, and as no one is able to provide me with an answer as is usually the case with insurance or to give me a figure based on their experience then for £134 a year its worth establishing a baseline of 4k. The lady seemed to think it was 'realistic'.
I had to come out with a figure. Even if I'd said his value was £500 I don't think the premium would alter much so I may as well stay with the 4k.
As for getting an accidental vet fees policy I will ring to enquire but I had an external visible injury policy with SEIB and it was £45 a month. This is a cost I can not afford to bear when I have another horse and I'm paying a premium around 1.5K a year for that.
Birker2020
Well-Known Member
Please refer to reply 16. When I said carcass value I meant for the insurance company basing a market value of a horse based on that. Not that I would do that even if he were not signed out.
No horse of mine would ever go for meat intentionally and certainly not the lovely Lari ❤
SEL
Well-Known Member
Harry Hall is reasonable - I cover external injuries for nowhere near £45 a month.
The trouble with elevating a value is insurance companies like to look for reasons not to pay and exaggerating the value could lead you into difficulties down the line. You'd be better seeing what a couple of companions sell for on-line because at least then you have evidence. I had the microcob at £500 and she's rideable.
Retirement does make you have to think what you would / would not treat. I do external injury cover after a friend ran up a £1k bill for a nasty cut - I'd have treated that with all mine - but I didn't add colic cover for instance because I know that's a line in the sand for me.
Birker2020
Well-Known Member
Colic was strangely what SEIB covered. Again personally I'd never put a horse through colic surgery after speaking about the subject during general chit chat with a vet about it years before, nothing against anyone that has but it's just not for me.
I think they put that on the policy because it looks like value. But there are not many who would put an retired or aged horse through that anyway due to what is often a poor prognosis and they probably know it, which is why its added automatically.
scats
Well-Known Member
All the ones I’ve had to retire through injury, I’ve rang up the insurance, explained the situation and put their value at £100 to decrease premiums. They aren’t worth any more.
I did that with Polly, though I’ve recently cancelled her insurance completely.
I did that with Polly, though I’ve recently cancelled her insurance completely.
Red-1
I used to be decisive, now I'm not so sure...
The WHW is also with SEIB, and is just over £13 a month for 3rd party, external injury and personal accident.
It is for any horse owned.
I looked at the Harry Hall one with colic, and it seemed to only cover a colic operation, rather than multiple visits for tubing. I would not do a colic op so it wouldn't be worth it for Rigs.
Birker2020
Well-Known Member
Wow that is great, I will enquire. Thank you!
vhf
Well-Known Member
Yes, I rang when one of mine went on loan and I gained a new riding horse, and WHW confirmed all three covered without affecting premiums. Value of horses not discussed (though low).
Squeak
Well-Known Member
I missed your other thread but I have the cover through WHW. The WHW covers a lot more than the Harry Hall one does, such as emergency transport and all horses you own so it's well worth reading the small print on both of them.
I have actually claimed through WHW and they paid out no problem.
I have actually claimed through WHW and they paid out no problem.
maya2008
Well-Known Member
They would LOVE you to insure for £4k when your horse is worth a payout of a few hundred at most, because then your premiums are higher but they won’t actually have to pay out that higher amount in case of death. Win win for them, not so much for you. Insure for the lowest amount they will give (£500 I think) or take the WHW insurance.
Rusky
Well-Known Member
To be fair to the horse it would be better to see if you could find a new home as a companion, assuming the lameness wasn't too serious and was manageable.
AmyMay
Situation normal
ycbm
Einstein would be proud of my Insanity...
You are misunderstanding loss of use payments. They are made because the horse is kept alive but no longer worth what it was. You owe IHW an apology for suggesting she did the wrong thing by her horse.
You also owe an apology to every person who has decided to put a lame horse to sleep rather than risk it ending up in the wrong home, because there is absolutely nothing wrong with that choice whatsoever.