unrealistic? insurance

[loopylucifer]

not sure where best to put this so will put in vets too. will try and keep breif. I lost my old mare back in June and claimed on the insurance she was 19 she did have some veterinary issues but all were managed and she still lead a active life up until she died (her leg shattered in the field not a kick though). I had her insured for 1500 and her main activity was hacking, i work with horses day in day out and feel this was realistic. The insurance company have only paid out 500 for death of horse which i feel is crazy as she was still very cabable of doing her primary activity her problems were controlable and did not really affect her and surly if they felt she was only worth 500 then this should have been picked up at the renewal? Am I being totaly unrealistc or are they? I just feel it has taken 4.5months to get anything out of them and this just feels like it was worthless.

 

[Annagain]

Unfortunately an insurance company's idea of a horse's value and ours tend to fluctuate wildly. Their valuation will be based purely on what it would cost to but a horse of the same age with the same issues regardless of what you feel she is worth. They will never tell you this at renewal though. I've just reduced my boy's value as he's that much older and has developed melanomas but even knowing this they have never suggested I should and had I required a payout they would not have given me what he was insured for (purchase price 5 years ago). Most policies will say "sum insured or current market value" so the value you place on them unfortunately isn't worth the paper it's written on.

 

[AandK]

firstly sorry for the loss of your mare and that you are unhappy with your insurance payout.
unfortunately, the vast majority of insurance companies pay out 'the sum insured or current market value, whichever is less' and this seems to be what has happened in your case.
i don't want to sound harsh but the way they look at it is 'how much is a 19yo mare with some veterinary issues that is used for hacking' worth? i think the answer would be much less than £1500.
if you are really not happy then do some market research and apeal their decision, good luck if you do!

 

[Twirly]

Sorry to hear you're having such a tough time with this

If she's 19 wouldn't she now have been insured under the veteran policy? I know the max the NFU will pay out on a veteran is £500