Have you increased your horse value for insurance due to rocketing prices?

[exracehorse]

As above really. Mine are insured but are vastly under valued if I had to replace. Loss of horse etc. One I paid 1.4K two years ago but he’s now worth five times that in current climate. Prices are crazy high. Wonder if a vetting would be required by NFU etc.

 

[shortstuff99]

If you are wanting to re-insure for a higher value (above £5k) then you will need to provide a 5 stage vetting certificate and show how/ why your horse has increased in value.

 

[poiuytrewq]

No, I insure for a nominal value just to get vet fees cover and third party so horse value makes no difference.

 

[milliepops]

No, I insure for a nominal value just to get vet fees cover and third party so horse value makes no difference.

This

 

[rara007]

No.

 

[exracehorse]

Ok. Thanks. It’s worrying that I would not be able to replace like for like on my insurance value. Not at the prices now being asked. I’m covered for death of horse. Theft. Etc. But at a value I paid when the prices were so much lower

 

[poiuytrewq]

Ok. Thanks. It’s worrying that I would not be able to replace like for like on my insurance value. Not at the prices now being asked. I’m covered for death of horse. Theft. Etc. But at a value I paid when the prices were so much lower

No you wouldn’t. If that’s important to you in the event of a loss then I think you should up the value. It makes sense.
I get horses free usually, so initial outlay isn’t a consideration.

 

[exracehorse]

No you wouldn’t. If that’s important to you in the event of a loss then I think you should up the value. It makes sense.
I get horses free usually, so initial outlay isn’t a consideration.

My friends mare had a freak accident and broke her leg while schooling. Was immediately pts by vet. The value was something she hadn’t thought about. And although she was paid for death of horse, she can’t afford to replace for similar type. Not now. Which made me ponder.

 

[shortstuff99]

My mare is now probably worth a reasonable amount of money, she works Advanced medium with some grand prix movements pi/pa etc, and would probably pass a vetting. However if I was to insure her for her value and loss of use the premiums would be extortionate!

TBH I wouldn't want to replace her like for like anyway, I would just buy what I could afford and train myself.

 

[Floofball]

I couldn’t do a 5 stage on my unbacked youngster, so I had a 2 stage and insured for less than I paid for him for now. I can however increase value and max vet fees after 6 months without having to provide a 5 stage, as long as he hasn’t seen a vet in that time ??

 

[spacefaer]

My mother insured her dressage horse for his market value throughout his career up to Inter 2. He had to be vetted every time she increased the premium. At that time, the premiums were around 11-12% of the sum insured. She could have bought several horses by the end of it with what she'd spent on premiums.


It made no sense to me - he was unique. All she would have realistically done is replace him as what she'd bought as a 3 year old.