How much are your horses insured for?

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Governor

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Sorry ever so slightly nosey post.

Governor's insurance is up for renewal at the end of the month and I was discussing underinsuring with YO last night.

Governor is insured for his value (perhaps slightly under). His insurance isn't outrageous and though I understand it'll be cheaper if he's underinsured I know that if anything were to happen to him and I wanted to get another horse i'd have almost sufficient money there and then to get something similar.

YO on the other hand said she's always underinsured to the extent where some of her eventers (iro £20k) were insured for £2000 because the vets fees were the priority. She also mentioned someone she knew who puts what they would spend on insurance into a seperate bank account and saves it incase of emergency.

Just wondered what you all do?
 
Bodey is only insured for what I brought him for, £2600, but maybe I should think about upping that now as I certainly wouldn’t be able to buy something like him, as he is now for that.
However as you have said the main reason for having the insurance is to cover any vet bills, god forbid I lost him I would find the money to buy another horse from somewhere.
It really depends on what you have your insurance for and how much your horse is worth, I think.
 
Maiden is insured for £3000 which is what I bought her for. She's now broke and retired and worth meat money, and I shall be reducing her value on her insurance accordingly. I didn't have LOU so only if she died would I get a payout - I insure for vet fees cover really. I have had to start again from scratch now I have to buy another horse with no LOU money from Maiden, and it's very hard but I'm hoping I can find a bargain. I think if I had something worth quite a bit and I had the money to replace it then I'd be insuring for vet fees and not insure for the full value. Otherwise I'd put full value. Of course it's always hard to tell exactly what the true full value is!
 
Hi, I had my horse insured for less than half his value, again mainly to cover for vets fees as he was young and it was not a thought that he would die. Unfortunately he did die from an avoidable accident as a result of stupid peole, and so I was left severely heart broken and out of pocket and not chance at all of replacing him - not even close.

Two weeks before he died I had actually contacted my insurance company to up his value, and was getting round to sending in his competiton record as proof of value.

4 years on I have just managed to find and buy a really nice new horse, but this one will be insured for much closer to his real value as I have been once bitten, twice shy.
 
I under insure I suppose, as my horse is worth about 5k, I insure him for 1k, as vets fees is all I really insure for. As I didn't pay anything for him, and if anything were to happen to him I wouldn't want another horse (going to uni) it doesn't really bother me.

I would still get as much vets fees cover, 3rd party etc.
 
I insure my horse for 2k although he is worth double that but for me it is having vets bills covered and public liability rather than loss of use or death.
 
Only one of mine is insured. He's insured for £8000 even though its well under what hes actually worth but I cant afford more than that! £100 a month is enough thanks! I bought him originally for £2600 I think, but that was 4 years ago now. :P He's covered for all the expensive ones
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like loss of use, loss of horse and vets fees.
 
seren is almost 18,and i just got a new policy with a new company the other day and insured her for £1000, not that i would sell her full stop!
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i think £1000 is right now she is a veteran
in her prime with her abilities, attitude and for her type etc she was worth about £3000 but now age and such factors have changed that, i dont get her doing jumping, x country anymore, i want to conserve her joints now as they are defo getting older, bless her,cant believe how time has passed by
 
my mare is insured for £4000. a lot less than i paid for her as i just wanted vet bills covered. her unborn foal is insured for £1000 and is costing me £117 per month until its born.
 
Funny enough I have been on the phone to my ins today about this. At the moment my horse is insured for the full amount that I bought him for, however he has an ongoing ins claim. I think that if anything were to happen to him they would quibble over the price because of the vets treatment that he is recieving. So I asked for a quote for for him to be ins for a 1,000 which is quite abit under what I bought him for. I don't have loss of use as I know its quite difficult to get.
 
Can't remember how much Badger is insured for - either 1 or 2k I think.. I sure hope he's worth more than that!
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Only really got it for vets bills and didn't want to have to fork out for really high monthly payments.
 
My mare is insured for the least amount I could (£150 I think?) even though I guess she's worth over £2K. Reason being I'm not interested in getting a payout if anything should happen, I just wanted her to be covered for vets bills etc.
 
Mine is insured for the minimum amount for a comp horse so £2500. I paid more than that for him as a rising 4year old! But is mainly to cover vets fees, if anything happened to him, nothing could ever replace him, and least £2500 gives me enough to get an ex racer or something to replace him.
 
Be careful under insuring - it's not strictly legal and a friend has just had a lot of hassle gettinga death of horse paisd out (by a very well respected company on here) as they deemed that the value insured was far too low - they were prepared to refuse an average payout compared with a good 5 figure number they thought the animal should be worth
 
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