horse insurance

[christine48]

Has anyone else had trouble increasing the sum insured of their horse? I contacted my insurance company to increase the value of my 16.1hh 3 yr old from £2000 to £4000. He had been insured for that value since a foal. Now he's broken in I thought I'd better increase it ( although still undervalued).
The underwriters wanted justification for increase. told them By an advanced eventer, out of advanced eventer, full brother advanced etc. This wasn't good enough, wanted a judge or trainer to give a valuation. Needless to say I told them I'd look elsewhere.

 

[ExRacers]

This is standard practice with insurers. You must provide evidence of value which on a 3yr old is going to be difficult.

Once he starts competing & you have good results, most insurers will accept that as evidence & agree to increase value accordingly.

 

[christine48]

Yes I explained that his full brother was sold to USA for eventing for a lot of money as a potential team horse and his 4yr old full brother was also sold for a substantial sum of money. My argument was that any horse would increase in value from new born to being professionally broken in. Big quality horses cost more than £4000