Market value for insurance purposes

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BacollisMum

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Right been sorting out insurance, it seems my old boy still has a value on him of £1,000 - in a bid to reduce my premium I'd like to reduce his value as at 24 if I lost him now I wouldn't want any money for him, I just want him covered for vet fees really. My insurance would like to know his market value in order to reduce it, I'm happy to value him at £0!

So thought I'd ask your thoughts on his market value, if he were for sale (which he never ever ever ever would be) his advert would go like this:

24 yr old, Dark Bay, Hungarian Warmblood, 16.2hh, total gentleman on the ground, great with farrier, vet etc, schools nicely, still jumps 3ft (can go higher but I don't), hacks out alone or in company - happy to go in front or behind. Never sick or sorry, totally sound. Pig to load.

Any thoughts on market value??? (at his age I can't see how it can be more than £50 - of course to me he is priceless as he is my once in a lifetime horse). Need to sort this insurance out ASAP.
 
I did this for mine but the minimum was still about £500 and it didn't make much difference down from £1000.
Are you paying third party with the insurers as it is usually cheaper to get this via BHS or BS or WHW and not pay to the insurer (also covers you for other horses).

Do check what vets fees are covered as most won't be at 24.
 
At 24 what in the small print of the insurace docs is he covered for? I'd guess external injury only (so no colic, lameness etc.) does he have any exclusions? Would you put him through any extensive surgery/ box rest anyway?

What is your excess?

With third party cover for £20million from the BHS for £60 a year and the excess on your policy to cover the odd call out and stitch up for a silly field accident - is it really worth insurance at all at this age?
 
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