How much do you insure you horse for !

[Scoopy]

OK right then.................... insurance is coming up for renewal soon and well how do i put a price on how much he is worth, he is worth millions to me

but can't really put that amount down

, so how would you value your trusty stead for insurance purpose !

Thankies !

 

[Tempi]

i think anything over 5k and you have to have a 5stage vetting certificate (i think - i might be wrong, or it might depend on who you are insured with).

Bloss is only insured for £3,500 - shes worth way more, but if need to get her vetted and she'd probably fail a flexion test so theres not much point.

 

[burtie]

Really only insure him for what you would easily be able to get for him if you sold him. Insurance won;t pay more than market value, regardless of what you put as the amount. The more you up his amount the more you pay. I onyl insure for a nominal amount (to get vets fee cover)as like you my horses are priceless, I would never go out and buy an expensive horses anyway, so if the worst happened I could soon save for another.

Just be very realistic about his market worth!

 

[Claireg9]

Look at the market now and see how much similar horses are on the market for. I have put Blue in for £5k i think? but thtas on the basis to replace her with the equivelant (Not that you could.. but feelings aside) it would cost me at least that.
Think thats how it works.
You could of course do a HOW MUCH!!

 

[ihatework]

£100 and £500

Not that they are worth that little but it means the premiums come way down whilst still getting full vet cover.

I have chosen to take the risk that if one is PTS I will not get back their value.

 

[Kelly1982]

My insurance company will only insure them for what you brought them for which p*ssed me off a bit as i got my horse cheap through someone local to me, she is worth double what i paid but they wouldn't have none of it!!!

They said that if i wanted to fight it i would have to gets a vet and someone from their insurance company to value her

They said when my insurance comes up for renewal then i will have to prove she is worth more by competition records etc.

What i will do next time though is insure her with someone else for what i would want back if anything happened whether she is worth it or not!!

 

[Claireg9]

ow actually i think £5k is my trailer? im so confused....
But yep market value!

 

[Scoopy]

Ok im going to do a how much !

I will put down what i piad for him i think, but as long as the vets fees are covered high i'm happy i suppose !

 

[AmyMay]

I always insured for the absolute minimum - because in reality what I wanted covered was vet fees really.

 

[not_with_it]

Ive only insured Gin for what I paid for her although she is worth so much more.

If I was to up my insurance I would have to have her vetted but I dont see the point as it would mean paying the vet and then paying more for my insurance. She will be insured for exactly the same stuff but I would be paying more each year, I didnt see the logic in that

 

[Blizzard]

I only have mine insured for half her value because like the others its vets fees Im concerned with.

 

[Christmas_Kate]

well, B is priceless to me and his owners. I have him insured for about 500 quid, of whivch his owners paid a bit, but he is 100% covered vets fees. I only insured him for public liability (being a youngster) and vets reasons anyway.

 

[aran]

for as little as possible as it is the vet fees that is the most important. the premiums go up as the horse value goes up and so sometimes it is not worth insuring for the market value.

 

[kerrylou123]

mine are insured for what i think is half of their value. Im only really concerned about the vets fees. Plus it means my premium is cheaper, as we all know, horses are expensive to keep!

 

[LEC]

I insure for what I pay for them then if they drop dead lose no money. But I guess if they go up in value then I would send records to prove this.

 

[WishfulThinker]

Its anything over 2.5k that needs a vet cert! I put mine on at 2499. But i know that ot buy one like him, at his age/stage will cost approx 4k or more!

 

[_daisy_]

Normally its just what ive paid for them but after losing lots of money on Ebis LOU claim I decided to insure Chantin for her market value. The insurance company paid full insured amount out to me but if i was to try and get another horse that did what Ebi could do i wouldntve got it for the amount that einsurance gave me.
Yes i had to pay for a full 5stage vetting but ive got the peace of mind should anything happen to her shes insured and i could get a decent horse from the money i would get back.

 

[JoBo]

Otto is insured for what I brought him for £2800. Might think about upping that as I think he is worth a bit more then that now, what do you think?

 

[Bosworth]

Debbie - I would insure him for £4500. That is a genuine price, you could buy something similar to where he is now. a talented, horse at the start of his eventing training.

I insured a horse I bought once for the value I paid - meat money - £500. Sh turned out to be a fantastic dressage horse and had stupendous breed lines. She dropped dead of a heart attack and I received £500 less my first £75. I could not have bought anything like her for £425. In future I always insured for market value. and with my current chap I bought him unbroken for £2500, I backed him, schooled him, competed him and wanted to increased his value to market prices. The insurance company would not agree without experts opinion in writing. So I wrote an opinion and got a friend who was a livery yard owner and AI to sign it and send that in - they accepted it. to be honest they would be stupid not to as you will pay increased premiums and they know your claim history.

The other opportunity if your insurance co won't increase your value is to simply go to another company and take out a policy