Upping insurance value, is it worth it?

[miss_c]

Right, so Genie is insured for fractionally less than I paid for her as a four year old. Since then she has turned into a cracking riding club all rounder, her schooling has improved immensely, she's had fantastic results in the show ring, and most recently has qualified for the BD Regionals. I know her value has gone up considerably, but my question is this - is it actually worth upping the value she is insured for? Has anybody done this, and what hoops did you have to jump through?

Thank you for reading and your choice of Ben and Jerries for replying!

 

[Bert&Maud]

I've never done it, but know that you have to have some sort of declaration from a professional (instructor or suchlike) to confirm the valuation of the horse.
I think you just need to think about what you would do if the worst happened and you had to get another horse with the insurance money. If you would like to buy something that was ready to carry on from where the last horse left off (if you see what I mean!) then you need to increase your insurance. But if you would just buy another youngster and start all over again then I wouldn't bother, but perhaps put the money that would have gone on the extra premium to one side just in case!

 

[Bert&Maud]

............ oh, and some sort of Cookiedough flavour would be fab - can you email it to me?!

 

[monkeybum13]

Honestly, I wouldn't bother. Never done it myself but have heard its a lot of hassle and only really worth it if your horse's value has gone up dramatically.

God forbid anything should happen to G you'd easily pick up a nice sort for her current insurance value.

 

[ofcourseyoucan]

its a catch 22. if insured for LOU then it might be worth it. if not got lou the only time an insurance co will give you the value of the horse is if it breaks a leg or dies on the way to/during colic surgery. vets fee cover remains at your level of choice regardless of animals value. premiums would rise, and you may even have to pay for a 5 stage vetting at the time of value increase........