Insurance question?

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NicoleS_007

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Rang the insurance company this morning as vet said to incase they wanted a postmortum but thankfully they dont! Didnt think he was covered because his from feet are excluded from the policy because of a chipped nav bone on the front right. But they said we are but didnt sound best pleased lol ... um but they want a evaluation on how much he was worth from my farrier or a dealer!!! How the heck will they no how much hes worth due to the fact theyve never seen him rode etc!!! But my YO who owns the RS and deals in horses said he'd write on for us but we dont no how much to say?? He was insured for 3500, had a chipped nav bone but has been completely sound for a year, jumped 90 courses with some meters, was schooling elem dressage, was just lovely to ride apart from hacking alone (he napped, but controlable napping) Tad confussed!!!
 
I would aim for slightly more than you will be happy with... they can only say no and offer you less but atleast you tried ;) You don't get if you dont ask :cool:
 
I would push for 3500.

I think insurance companies have a bloody nerve taking premiums for an animal valued at a certain amount, then arguing they aren't worth that when it comes to paying out.
 
Sorry about the bad news, what a shame :(

I suppose if you can get someone you know to write one up, then this is better, as it can be written in the best possible light I suppose, ie worth what you think he was worth? I am surprised they are asking for one though, as he was insured already for an amount, so was this not what he was worth? I'm confused too!
 
Laura1234 said:
Sorry about the bad news, what a shame :(

I suppose if you can get someone you know to write one up, then this is better, as it can be written in the best possible light I suppose, ie worth what you think he was worth? I am surprised they are asking for one though, as he was insured already for an amount, so was this not what he was worth? I'm confused too!
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See we initially insured him 3years ago for this amout then when he chipped his nav bone last year we didnt change, so i dont think they'll pay out the 3500!!!
 
If you didn't amedn his sum insured when he was diagnosed with navicular then no they are no likely to pay you what he was insured for. The settlement would be based on his sum insured or market value (ie what you could seel him for) whichever is the lesser.

If he was still able to be ridden and could still jump (and was sound) then he probably would still have some value. I would guesstimate around £2000 ish. All you have to do is get a wrritten confirmation from a qualified person - that could be a qualified riding instructor, a vet, your instructor, A DC of a pony club etc etc. What they essentially want is just someone who knowshorse and maybe has some qualifications that shows they have some knowledge of the horse market.

All they have to say is something along the lines of they can confirm that *(horse name)* had competed in *x* activities up to the point he was diagnosed with navicular in (year). They could then just put how after the diagnosis he became sound and was still hacking and jumping courses up to 90cm and therefore to replace or sell intoday's market they would consider his value to be (and then put figure). i woukd just be honest. Say maybe £2500/£2000.

All the insurer want is a 3rd party just to confirm the horse did still have some value. You will have to be prepared to take a loss on his sum insured as sadly with navicular he is unlikely to have been worth that much.

I am very sorry for your loss, i read what happened and it is just so horrible how your day can change so quickly. :-(
 
If he was insured for £3500 when you first started insurance and was doing no less stuff after his initial injury then I don't see how he can be less value....they didn't give you a drop in what you paid to them per month did they? Remember they always knock off about 15 - 20% anyway so don't go in with too low a value.
Really sorry to hear about your loss.
 
Insurance companies do not 'knock off' % of sums insured. This would only happen if they considered you had over-insured your horse - ie you had say a 20 year old horse that had say been insured for £5000 or something for the last 10 years. I butt would be unlikely a 20 yo horse could sell for that unless it was uite exceptional. That is what they consider. there is no reason the horse in question here would not be valued at £3500 still given what he was still doing but they would want someone 'qualified', other than the owner of the horse to state this.

They are not trying to catch you out. £3500 isn't an extortionate amount of money so it is quite possible they will agree to that. They are likely to query more if this horse was insured for a more substantial sum.
 
Who would be the best person to write the evaluation thingy? The options are; vet whos never seen him rode etc, farrier whos never seen him rode etc, YO who deals in horses whos only seen him rode a couple of times ... cant think of anyone else.
 
Vets to be honest don't tend to do valuations as it is not something they would say they know about. However, if your vet is horsey or knows your horse then they could write it. Other than that just someone knowledgeable - a friend/fellow livery yard person (if you are on a yard), an instructor you use, a huntmaster if you hunted (or indeed just know one as a friend), a farrier (again they are like a vet though and may not be keen), a fellow riding club member. Even a chiro etc.

IF you do not have anyone or cannot think of anyone then I woud suggest just asking the insurer who they would accept it off. If you had a friend though who maybe went to the same events as you etc then they could do it. they are not asking for it to be a solicitor or anything like that, just someone other than yourself who will have no financial gain from the claim, to write something confirming his value.
 
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