Should I Up value for insurance purposes? (With photos)

[gemma1309]

That time of year where its time for insurance renewal, reading over docs and realied that Sasha is still insured for the amount I bought her at £1250 and I believe her value has increased and was thinking abot insuring her for more so thought I would ask you knowledgeable delightful people.
Sasha is 15.1hh (rides bigger)7 year old traditional Connemara (looks more like small ID) I believe she will make excellent Riding Club horse all rounder and that is mainly my intention although will make excellent WH/Hunter as blemish free. Excellent nature and my wee boy can ride her about quite the thing (he is only 6) She is not a plod but an be if need arises. Althogh still green (mainly in Canter) she is showing natural ability jumping and this is what she loves to do apart from hacking! she is doing gridwork of about 2ft 9 just now and the bigge the jump the more respect she shows she has jumped 3ft ^ as a single jump without trying and has free schooled over 4ft 3 spread of her own accord. She has done a local pleasure ride of 15 miles and enjoyed it and at her first ever XC comp although a bit green came 3rd. I believe she would do well at lower level BE , WH showing and just general allrounder, I was thinking along the lines of £2000-£2500 although someone once offered £4500 for her (nutters lol as she has swwet itch although easily conttrolled) So I am asking you wonderful people what should I insure her for.

http://i91.photobucket.com/albums/k301/gemma1309_2006/JustinandSashaApril2009014.jpg
Sasha early this year.
http://i91.photobucket.com/albums/k301/gemma1309_2006/mixture011.jpg

When I first got her:
http://i91.photobucket.com/albums/k301/gemma1309_2006/sasha031.jpg

[CityLights]

if something were to happen to her would you be able to replace her with the money you would be paid out? that the way i always think about it, i would say she is probably a more £2000 horse than a £1000

[gemma1309]

Oh god I never thought about it like that smile and Wave both my ponies are irreplaceable but I would be far pushed to be able to replace her for £1000 but then I am biased and would say I would never be able to replace her for £3000 never mind £1000 lol but was trying to do it on how much she would sell for if I was selling her- thanks for that.

[helena]

I would say in the region of £2500.

[clippi]

Be careful when I looked at doing this. Clip had quadrupled in value. In order for me to insure him at his current value (to replace witha similar horse) I either had to have a 5* vetting or get letters from people in the trade confirming his value. To do this I looked on websites to cost up similar experinced/aged horses. Mkae sure you look at sites that sell the type of horse you believe they are (I only looked at Endurance sites)

[black crow]

Agree with above

However, please remember..

Under most circumstances, it doesnt matter what the horse is insured for, if its 'market value' on the day of said claim is less than insured, then they will pay that out, and not what they were insured for.
Spud was insured for 4000 and we had him properly valued, right now he probably isnt even worth a thousand because hes out of work, etc

[CityLights]

the level of work he is will also effect the premiums i think as well, for some reason they wanted to up Ollie's premium becasue he is working at Medium level dressage which is obviously at a much higher risk :rolleyes:and told me he was insured for too little, whcih at the end of the day is your choice what you value them at, Ollie is insured for £5000 but you would never find a horse of his level for that in a million years