How Do You Assess Your Horse's Value?

Monday, May 14, 2018
Posted by Tracey Scharf


We know your horse is priceless. Placing a value on a horse can be difficult. If you have recently purchased a horse, or if the horse has gone through a professional sale, the selling price is generally an accurate evidence of value, and an indication of where the market is headed. With more and more horses coming from Western Europe, the transit fee can be quite expensive averaging between $5,000 to $10,000. If shipping within the United States the fee can be upwards of $2,000. You may also add in the cost of professional transport. So how do you determine investment in training and showing? The best insurance policies are based on "agreed value," which means that you and the insurance company agree on how much your horse is worth, and that is the amount that will be paid out in the unfortunate event of death.

On the other hand, some insurance companies will only write policies on "fair market value," which means your horse's worth will be evaluated at the time of his death, and that is the amount you may receive. With Markel, all policies are 'agreed value'.

If your horse wasn't purchased through a recent sale or you have owned your horse for more than two years, many different factors go into determining the value. We start with the purchase price and if the value has increased due to training, showing and/or breeding, we will need up-to-date records to substantiate the value.  For home breeds, the base value is two to three times the stud fee.

There are many factors that determine a horse’s value. Speaking with an Insurance Agent that is familiar with your breed and/or discipline can help establish the appropriate value for your horse. DressageDaily's Mary Phelps-Hathaway - a Markel Equine Insurance Specialist, and CSR Tracey Scharf - are available for you to guide you through this process. 1800-572-3286.

Forms and Applications
Justification of Value
Standard All Risk Insurance Application
(for values over $50,000 and/or outside of the US)
Hassle Free Application
(For values $50,000 and under with no pre-existing conditions)

For the personal attention you deserve contact Mary Phelps, a Markel Equine Insurance Specialist
cell/text 859-940-8517

We are available on the scene, on the road, on the net, and in the office to answer your questions, help you with your applications, and be your direct connection to our Markel Underwriters. We work hard at this process so you don't have to. The application process does not have to be a daunting task. We are here to make it easy, so you can spend time with your horses and clients.