Is the amount a horse is insured for also its value?

[nicenewone1]

My daughter is loaning horse that the owner has decided to sell. The owner has said to make her a reasonable offer.

When I asked the owner for a value at the start of the loan for insurance purposes, she said 3k.

Would the insurance value usually be the same as for purchase? Do I take it that the horse would be priced at 3k to sell? Or does that not follow

any help would be greatly appreciated!

I think the insurance value is usually the purchase price. However, if you have schooled this horse, given it a competition history etc, it could now be worth more than the owners original £3k.

Why dont you go on Horsemart or Horsequest and search for something similar and see what prive they are going for, ie, how much would you need to spend to buy the same thing again?

They're usually in the same ball park, but not always the same. I insured my horse for what I could afford, which was slightly less than his market value - and it was mainly vets fees that I was interested in covering. Also, insurers may require a vetting to go over a particular value so some people will insure for less than the horse would fetch.

It's probably a good starting point. As Fire suggests, I would look around locally to get an idea of what he might fetch.