Annagain
Well-Known Member
Reading a post on here about updating insurance has got me thinking about my boy. He is still insured for what I paid for him 4 years ago, but 4 years older, having developed 2 small melanomas and with the market as it is he's probably not worth that any more.
Should anything happen to him, would the insurance company pay out for my esitmate (that my premium is calculated on) or would they say,that that wasn't his current market value? (although I appreciate his melanoma reduces his value, what he's insured for is what it would cost me to buy another like him)
So the question is, should I reduce his value, pay less of a premium and get less for him should anything happen to him (touching every bit of wood I can find that it doesn't!) or carry on with his insurance as it is in the hope that I would get more of a pay out if it ever came to that? Do insurance companies ever query valuations? (I assume they must as any insurance company tries to pay out as little as possible, but a horse's value is not as easy as something like a car is it - I could argue that his jumping and flatwork have both improved a lot since I bought him so his value has increased that way)
Anyway he's a 13yr old, 16.2 IDx something, quite a weight carrier. He's done a lot of hunting, but not in the time I've had him, when he's done a bit of everything at riding club level. He is the perfect hack, brilliant in traffic and forward going without being silly, although he can get strong in a big group (he thinks he's going hunting and gets too excited)
Does an ok prelim dressage, usually scoring mid 60s, and jumps nicely up to about 3' (he'd probably go bigger but I turn to jelly!) although he can get strong. He's great to handle, load (lorry and trailer), shoe, catch and to clip 90% of him but needs a twitch for nether regions and ears. His only fault is he gets a bit nappy at competitions. He's fine indoors but outdoors focuses on anything except the job in hand and is too busy looking for his mates to realise there's a fence in front of him! So how much do you think bearing in mind he's got two very small melanomas?
Should anything happen to him, would the insurance company pay out for my esitmate (that my premium is calculated on) or would they say,that that wasn't his current market value? (although I appreciate his melanoma reduces his value, what he's insured for is what it would cost me to buy another like him)
So the question is, should I reduce his value, pay less of a premium and get less for him should anything happen to him (touching every bit of wood I can find that it doesn't!) or carry on with his insurance as it is in the hope that I would get more of a pay out if it ever came to that? Do insurance companies ever query valuations? (I assume they must as any insurance company tries to pay out as little as possible, but a horse's value is not as easy as something like a car is it - I could argue that his jumping and flatwork have both improved a lot since I bought him so his value has increased that way)
Anyway he's a 13yr old, 16.2 IDx something, quite a weight carrier. He's done a lot of hunting, but not in the time I've had him, when he's done a bit of everything at riding club level. He is the perfect hack, brilliant in traffic and forward going without being silly, although he can get strong in a big group (he thinks he's going hunting and gets too excited)
Does an ok prelim dressage, usually scoring mid 60s, and jumps nicely up to about 3' (he'd probably go bigger but I turn to jelly!) although he can get strong. He's great to handle, load (lorry and trailer), shoe, catch and to clip 90% of him but needs a twitch for nether regions and ears. His only fault is he gets a bit nappy at competitions. He's fine indoors but outdoors focuses on anything except the job in hand and is too busy looking for his mates to realise there's a fence in front of him! So how much do you think bearing in mind he's got two very small melanomas?