Insurance Value vs Premium

[Flibble]

Does anyone on here know what the magic values for horse insurance are that affect premiums. I have paid out quite a sum this year and wondered if I dropped the value of the horse next year what the premium could expect to drop by.
They must have a book of magic values mustnt they.

I am with KBIS.

 

[Jambo]

Are you insured for loss of use?
That really bumps the cost up.

 

[Bossanova]

Phone them- theyre very helpful and most companies have a brill online system which they can tweak to give you numerous different quotes

 

[Flibble]

No I knocked that off as I Insured Gulliver for 13 years and now I could claim loss of use I discover that ceases now he is 17!!

I made the stupid mistake of Buying Drifter the exact same weekend as I had bought Gulliver (spooky or what) and so have two horses to insure at the same date as I promised his companion home I would keep him insured.

 

[ladyt25]

Generally it is rated on the value of the horse so a % rate and so yes, if you change the sum isnrued this should reduce your premium. Also depends on what class of use you have him insured for. Check you don't have a class of use you don't need and might be oaying for - ie if you don't hunt/event but you are covered for them, these sorts of 'higher risk' activities can affect your premium. Also, if your horses are insured with the same company - do you have them on the same policy? If not why not? You may fuind you can save money in this way. Ask your insurer they should be able to advise and ask (if you don't ask you don't get) if you are eligible for any discount insuring 2 horses with them.

 

[miller]

I've just dropped value of my lad as he's now 19 - NFU ran through the %'s with me and value made a fair difference but the Vet's Bills wanting max payout made the most difference.

I rang Petplan for a compare quote and they said they could match NFU's if I agreed to drop the Vets bills to £750 per incident

and the Public Liability to £500k

Needless to say I stayed with NFU as Petplan were nearly £400 dearer for both of our horses - other horse is insured for £800 and flatwork/hacking