Insurance valuations (don't worry, not a how much!)

[Paint it Lucky]

I need to sort out my horse's insurance as I moved house a while ago and forgot to change address with insurers so insurance has run out as I didn't get their renewal letter

I don't know exactly what my horse is worth but imagine it's a reasonable amount as he's a good allrounder and has won a few comps. I only want to insure him for vets fees and hospitilisation (already have 3rd party as BD member). I am not intrested in loss of use cover.

But the insurers I've tried so far all want a value for him, but surely this is irrelevant if I don't want loss of use and all it will do is push my premiums up?

So should I just lie and give him a low value? Do any insurers not take monetary value of horse into account if not wanting loss of use? Don't see why I should pay out 6-8 hundred a year for vets fees which only go up tp £5000. After a few years I'll have paid out more than I could ever get back.

Hope this makes sense. I just want a low cost insurer who is reliable to give me some peace of mind without overcharging me!

 

[CrazyMare]

Mine are valued at £1k each, and have full cover. They are both worth more than that, but it gives me 3rd Party Liability and £5k vets fees.

One is with Petplan, and one with NFU

 

[Paint it Lucky]

Crazy mare I was thinking of doing that, however once you add your horses use, eg, dressage, showjumping, eventing etc, will the company not question that it's value is probably more than £1000?

 

[kylie88]

Hi,

Mine are both insured for £1500 but worth more, as I dont have loss of use, just vet bills and pubilic liability. i use horse-insurance.co.uk u can pick and chose your poilcy.

 

[CrazyMare]

Nope, they just accepted it. One is 17, and one is a homebred yearling - they wouldn't value her for more than £1k anyway, as I have no proof of her value....hg