Insurance letter HELP please!

[katie123]

After recieveing the renewal letter before christmas and reading through it Flint is insure for £1500.

Now im my opinion he is worth more than that so we rang NFU and asked to increase the value.
They said we had to have a signed letter from a horse dealer.

We still keep i touch with the woman who sold us Flint as a baby (she buys and sells horses) and went to see her, she said if we write the letter she would be happy to sign it.

Now i am just stuck with what to put in the letter and i dont really know realistically how much he is worth...

Suggestions and Oppinions appriciated please.

here he is.. (sorry not the best pic)

[pip]

Well don't over insure him, because all that will mean is that you are paying more in premiums. You should think how much it would cost to replace him if he died, so the dealer should be able to tell you that.

I don't insure my horse for his full value, although I have upped it a bit from when I bought him. Mostly the insurance is for vets fees, after all, most horses don't die, but quite a lot do have veterinary problems, but you need to read the small print so the insurance company can't complain that the horse is "under insured."

If the worst happened and my horse died, I wouldn't have enough money to replace him from the insurance money, but it would go some way towards a new horse, and in the meantime it is keeping the premiums down to a reasonable level.

[melissa1787]

Sorry, just had to say, he is lovely.

Might help to know what you have done on him and what he may have won?
If you do not show him that is fine, but what things do you do on him and is he good or does he have vices?
He looks a good allrounder so if that is so I would say over £2000
Vices would lower his value and so would it if he were not sound.

This is when I may have offended you and run for cover.
Sorry!

[katie123]

I dont show him, just hack and school, he is excellent in everyway

[chloe]

I recently got NFU to increase Dolly's insurance value from £1000 to £2000. I provided them with evidence that it was a reasonable price to pay for a pony like her on today's market (basically I emailed them advert references on Horsemart that were similar to Dolly and for sale in that price range) and also sent them photographic proof that she does what I said she did (pictures of her schooling, hacking and jumping). They were happy with that and upped her value quite quickly

eta not sure how much Flint would be worth nowadays - worth looking on Horsemart for similar types to him to give you an idea, bearing in mind horses from dealers tend to be more expensive than those from private homes...

[katie123]

Ah good idea, thanks for that

[katie123]

Anyone else?

[melissa1787]

From what I have seen, I would say £2000 - £2500

[Susan]

I got NFU to increase value on Flynn as I bought him as unbacked 3 year old..so obviously once backed he was in different value box. They accepted my valued based on H&H..plus as he got older we also increased it but he is just under barrier for another new vetting value.

I do have to say Flint is one looovly looking horse is he Highland?reminds me of my Flynny!

[iceberg]

He is a beautiful boy, and I think you need to be thinking along the lines of how much it would cost to replace him like for like if he were to die or get stolen. Sorry to be morbid, but if god forbid he went tomorrow, and you wanted to replace him, thats the figure you need to think of. ( I know he is priceless to you, but from and insurance perspective he will have a 'market' value.)
so look on sites and try to be realistic about replacing him, type, age, achievements, and this may help you. (sounds very materialistic, but the insurance co will just look at it like that.xx)
xx

[sara]

Katie I might be tempted to leave it as it is.
Lloyd is only insured for half of what he is worth to keep the premiums down. It can get very expensive to up it. Will you be paying for it, or your Dad?

[eskimo]

I don't insure my WB for what he's worth, i could never afford the premiums.
I basically keep him at a low value price & just insure for vets fee's as thats the most important thing to me. I could never replace him from the money i got back if anything happened but i still wouldn't get enough to replace him if i insured him for what he's really worth if you catch my drift. I don't insure for loss of use so this suits me. Insurance is an expensive game!!

A friend of mine who events to a quite high level insures all her eventers for £1,500. She is the same as me Vets fee's are more important as you can't replace these horses with the money you get anyway.