I just adopted an 11 year old Paint from an adoption agency/Rescue. The horse is in great health but I want to get insurance on the horse Mortality/Major Medical. The horse is registered. How do I get a value on the horse since it was an adoption we didn’t pay anything so I can not go by that? The insurance needs for a quote how much the horse is valued.
It might depend on the insurance company so I would ask them directly what the protocol is for value assessments.
Markel is really popular where I used to board and they allowed me to essentially submit receipts for all professional training and clinic fees as well as estimate reasonable increases based on show performance (I was only looking to insure in the mid to high 5 figures which I’m sure makes a difference).
There are equine appraisers, even one or two on this forum. That would be one way to go in valuing a horse. Probably the only way to get a value on the horse that’s acceptable to the insurance company.
The problem with this type of horse, though it might be very valuable to you, it might not have a ton of “value” to the insurer. I have a friend who has a horse who would easily sell in the 35-40k range, but they bought the horse for next to nothing from someone going through a rough divorce. Score for them, but most insurance companies wouldn’t insure him at all because of the low purchase price, unless they had an appraiser out to verify. (Fox hunter so no show results.)
Does this horse have papers of any kind?
If not, you are probably not going to be able to claim he’s valued at very much at all. Generally, it’s whatever “fair market value” is right now. If you sold him today, what could you get for him.
In this case, my guess is maybe $1000, and that’s if he’s in good health and is decently trained, as in, a more beginner type rider could take him out on trails tomorrow.
If he’s green-broke, you’re looking at probably $500, if that, but you could try.
Go through local ads for a horse like yours and see what the asking price is, as that’s going to be the closest to market value you’ll find without paying an appraiser. In your case it is probably not at all worth hiring an appraiser.
I am a Senior Equine Appraiser and I have to agree with what JB has said. In regards to a horse that has low value, the cost of getting an equine appraisal done is likely not going to be worth the trouble. I should mention that I know nothing about this horse in particular, so have no idea how much he is actually worth. 
I’m just going off of the fact that you mentioned you recently adopted a rescue horse.
Depending on the insurance company, many companies will not offer Surgical or Major Medical unless the horse is worth or insured for X amount, i.e. $5,000. If the horse is a rescue horse, not trained under saddle and simply an addition to the family, you are probably better off putting money in a savings account each year for any unforeseen medical bills than purchasing insurance.
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