What value do you insure your horse for?

Paint it Lucky

Paint it Lucky

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Sorry if this is a personal question. I was at the yard today and a lady was saying how she was pleased that she'd managed to insure her horse cheaply, 'how much for?' I asked,
'Only £50 a month,' she replied
!!!
I was shocked, 'Really? Mine is only £30 a month' I replied
We soon discovered the reason the prices were so different is that her horse is insured for a lot more than mine, £8000!
She does very little with this horse, he isreasonable at dressage and jumping though not amazing and is quite often unsound. In my oppinion he is not worth aywhere near £8000, but I didn't say this as I'm sure I would have sounded rude.

So my question is, do you insure your horse for what you feel is it's true sale value or;
#cheaper so you don't have to pay such high insurance
#more expensive so you can claim more on loss of use
Or some other reason?
 
I have mine insured for the price I paid for him. But he is older and will not increase in price. Might be different with young ones

x
 
Mine is insured for the price I paid for him, I know a lot of people that insure for a lot more when horses arent worth a touch near that, But I just insured mine for the price I am not bothered about gaining anything for him if the worst happens.
 
My chestnut mare in sig is insured for what I paid for her. My oldies are actually insured for more than I paid for them!!! £500 each, I (well my mum and dad) paid £200 for them
grin.gif
but that was nearly 30 yrs ago
My sec B in sig is insured for more that I paid as she was unregistered when I bought her and is now registered and broken to drive.

I dont really think I worry about the value too much now as I never intend to sell.But if something awful happens it is nice to have a bit of money to find a new horse.
 
I have my 3yo on a basic insurance policy, insured for £500 and with £3000 vets cover (£250 excess). Premium of £14 a month. I will up cover once he turns 4.

My older horse is no longer insured, he was however insured up until last year for £100 and with a fully comp policy incl £5000 vets (excess £120) - Premium £26 a month
 
Blossom is insured for £2500 which costs around £25 a month - shes 14, in foal now, did compete BD at elementary/medium level. Shes covered for everything apart from LOU as shes not competing anymore due to her new life as a broadmare.

Archie is insured for what i paid for him, which would be what it would cost for me to replace him should anything happen. He isnt covered for x country or hunting, just SJ, vets bills up tp £3000, dressage, LOU and im sure theres something else ive missed off. I will increase his insurance next time around as his value will have increased by then. Unfortunately as im not rich i would never be able to afford to replace him should something happen, hence why i will make sure his insurance is up to date as to his value at the time.

Both my horses cost me £152 a month combined for insurance.
 
Mine arent insured but if I were to insure them it would be for the cost of replacing them with a half-decent young horse- ie sort of 2.5-3k even though theyre probs worth more
 
I just insure mine for the vets fees cover etc, nowhere near what they are worth as eventing cover carries a huge premium.
 
my mare is covered for price i paid but shes at stud at mo and if all goes to plan and she has foalie then foalie (when its 31 days old!) will be insured for more than what i paid for mare! have no idea yet on price as will have to see what i get but the dad is graded and licensed with few different societys so will have to see what pops out before i decide on figure
 
Bodey is insured for the price I paid for him. I mainly have the insurance for the vet bills though. I’m sure he is probably worth more then I paid for him now but I’m keeping him insured for the price I paid for him otherwise the premiums will just be too high.
 
I have so many horses that, even if there was insurance like you have over there, there's no way I would have it. If a horse needs vet attention then I pay, if a horse dies then I lose money....simple as that.
 
My 3yo Arab stallion is insured for the price I paid for him as a 2yo. I have recently been told (by an expert who evaluates Arabs professionally for insurance, court cases, breeding etc.) that he is now worth about £10,000 more than I paid for him, thanks to international show success etc., but I have not increased the insurance - it's already costing me a fortune!
 
Mime are insure for that value i brought them, as I looked at it this way, they are both covered for LOU, vets fees up to £5,000 per each different thing, and insured for correct level of competing.
If i insured them for current value i wouldn't be able to pay insurance or level of cover currently got. So if they do go wrong, their value will go down to what i paid for them, so why pay insurance company extra money in premuims??? As for a value, in my eyes its all speculation-- it what you think you could get? but my horses, aren't for sale and i don't produce ggs, but that's my view. Monthly insurance bill just over £100 for both
 
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