Changing horses insured value

[madhector]

How does one go about it? I really need to put Jerry's value up as he is currently insured for what I paid for him, but think he is worth more than that now (if he gets better obviously)

Also, what sort of value would you put him at? I really don't have a clue, except that he is worth more than he was

He is a 16.2/3hh TBxID gelding, 5yrs, schooling really well, superb trot and walk, canter is still very big and needs collecting. Very bold jumper, and really scopey, gives you that wow feeling over a fence. Won his first show in-hand and won the championship. Will be eventing in the spring (fingers crossed)

Ideas? don't want to have to change it again

 

[Bossanova]

If I insure it's only ever for the amount it will cost me to buy decent youngster. Cant afford the extra premiums if I insure for current value!!!

 

[madhector]

At the moment he is insured for £1800 which I doubt I could get something like him again with

 

[wizoz]

We always insure for 3K, so it covers vet fee's. But so far, I haven't bought a horse for more than that, however it could all be about to change, then goodness knows what i'd do about the insurance

 

[ExRacers]

You will need to provide written evidence and/or a competition record for the insurers as to why you wish to increase the value.

Shouldn't be too difficult as obviously the horse is improving all the time.

Sorry, no idea on the value though!

 

[_jetset_]

I was like this with Grace... She was insured for £2,500 and like you I very much doubt I would find a horse with her breeding and ability for that price, even as a 3 year old! So, I looked into upping it and got a 2 stage vetting and can then insure up to £10,000

 

[madhector]

what sort of written evidence? who would have to write it?

 

[_jetset_]

They said to me a trainer or a judge...

I have the competition record though, so hopefully that should be enough

 

[ExRacers]

Just write it yourself explaining everything that the horse has done eg; shows, lessons etc and back it up with any documentary evidence that you have.

Some of our clients also get a letter from their regular instructors as well.

Never had one turned down yet! However you need to be realistic about the new value. And if he turns out to be a complete superstar then you can obviously increase it again later on.

 

[madhector]

Thanks, I will do that, still have no idea what to insure him for though