Increasing sum insured for...

galaxy

galaxy

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Just called my insurance company to increase the value of my horse. I bought her last summer as an unbroken 4 yr old (she was just about halter broken, but only the person handling her at the stud oculd get anywhere near her.... I couldn't)

Anyway, after a long complicated road, she is now broken in and being ridden, hacked out, etc. She can be handled by anyone, shod, well mannered etc etc.

She is well bred, her mum a graded ISH, Dad competed BD, BE, Grandad Grade A SJ, Granmother went round Badminton and Burghley

So I bought her for £1250 and am trying to increase her value to £3500 (I know it's a big jump, I should have done an increase in between, but I've been having a rough time personally and just wasn't high on my list of things to do), which I think is justified. Anyway, they have asked for a judge, instructor or vet to give a written valuation.... Well she's not out competing yet (they know that), my instructor does clinics (which are quite expensive, so I'd want her more schooled before I take her, at the moment I take another horse which is competing) so the only option in my vet.... Who does know her, and I expect won't have a problem valuing her... But I do question a vet valueing a horse? She hasn't seen her ridden... She doesn't buy/sell horses to know the market... I just question their opinion? I would trust a farriers valuation more.

Anyway (apart from the fast I am a reg AI, but obviously I can't value her myself!) what do you think of a vet valueing a horse?
 
We had this problem too. When we got my daughters horse he was valued at £800 as a unbroken rising 3 year old. When he was about 5 and out competing a bit his value needed to increase tp £3000. The insurance company wanted show results and a report on any lessons, schooling etc. He had been placed quite a bit in hand at local level and at a few agri. level shows but not much else. They did accept the valuation which is still under the amount we would want for him now as he has progressed further, but I don't think we'd get this increased again.
 
I don't know that you'd have to attend your instructors clinic for her to say the horse is now higher in value. She might be quite happy to do so with just popping to your yard and seeing her schooling. I upped the value of a horse I had insured once, and I didn't have to have anyone else confirm it. I just stated on the forms that the horse had gone from unbacked to reasonably well schooled, learned some manners, and put on condition.
 
yeah, I told them that, but they've asked for a valuation...

sadly my instructor lives out of area, so won't be able to come and see her. He literallly comes over (not to my yard, it's not even local) to do a clinic once a month.
 
Really? they just wouldn't let you?

Annoyingly when I first bought her, I had a nice guy on the phone who said to me, don't forget once you've done something with her to call and get her value increased!! Grr!
 
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