placing value on cow

[Dee]

I checked with the farm insurance rep today about my heifer that has been missing for a few months. He said he can submit it as a loss, but I need a copy of the report to the sheriff, which I got, and a "value" of the heifer. How would I place a value on her? I paid $1100 for her as a calf a year ago, had her AI'd, and wasn't preg checked when she went missing. She is a registered Angus, from a reputable area breeder, that raises and sells show cattle.

 

[Mahoney Pursley Ranch]

Don't see how you can claim more than you paid for her.

 

[Texan]

I'd get that "reputable area breeder" to fix you up a written appraisal on his letterhead. Something your adjuster can send in with your paperwork. That would lend credibility to your claim. You might even want to be there with him and twist his tail while he's doing it for you. ;-)

 

[Brandonm2]

I agree completely. A registered Bred heifer is worth more than a registered calf so she should be worth more than $1100.

 

[msscamp]

I agree completely. A registered Bred heifer is worth more than a registered calf so she should be worth more than $1100.

Texan and Brandonm2 - maybe I'm being dumb again, but how can you claim she was bred if she wasn't preg checked? That is not a claim that can be backed up.

 

[Brandonm2]

The heifer was AIed. She can prove that and that makes her "bred" until somebody palpates her as open.

 

[msscamp]

The heifer was AIed. She can prove that and that makes her "bred" until somebody palpates her as open.

No, that makes her AI'd in my book. Not 'bred'. She is not 'bred' until she fails to come into heat or she is palpated and the vet says she is bred.

 

[Brandonm2]

Well this is between her and her insurance company. I would DEFINITELY call her bred and if the insurance adjuster want to argue about it that would be the position I would argue.

 

[msscamp]

Well this is between her and her insurance company. I would DEFINITELY call her bred and if the insurance adjuster want to argue about it that would be the position I would argue.

I now have a much better understanding of why my insurance premiums keep going up. Thank you for the enlightenment.

 

[jgn]

I would think you could claim her value as $1100. Other money spent would be a loss just as if she walked up and dropped dead at your feet.

 

[Texan]

Well this is between her and her insurance company. I would DEFINITELY call her bred and if the insurance adjuster want to argue about it that would be the position I would argue.

I now have a much better understanding of why my insurance premiums keep going up. Thank you for the enlightenment.

Msscamp, I'm with you all the way on not cheating our insurance companies. There's way too much of that already, and you're correct that it is the reason for excessive premiums. But there comes a time when people who faithfully pay their premiums deserve for their insurance company to be equally faithful about paying a legitimate claim.

I don't think anyone here was advocating anything dishonest or fraudulent. Dee's policy will spell out what she is eligible to claim. And I sure don't have any idea whether that would be purchase price, replacement cost, current fair market value, or some other arbitrary value. But in my opinion, an animal purchased as a calf sure doesn't deserve any depreciation in a year's time. In fact, that heifer has certainly appreciated in value. And while nobody could argue that she was safe in calf, I don't see anything wrong in saying that she had been bred. It just seems to me that her $1,100 calf now has added value. And if she had been palpated safe in calf, it would increase that added value more than just saying that she had been bred. I believe that she deserves to be compensated for all of the added value, but certainly nothing more.

 

[showme]

I checked with the farm insurance rep today about my heifer that has been missing for a few months. He said he can submit it as a loss, but I need a copy of the report to the sheriff, which I got, and a "value" of the heifer. How would I place a value on her? I paid $1100 for her as a calf a year ago, had her AI'd, and wasn't preg checked when she went missing. She is a registered Angus, from a reputable area breeder, that raises and sells show cattle.

The way prices are right now if she was a good one then you could claim her worth more than that. I would claim her as bred. If she is really nice and bred I would claim $1500++

 

[msscamp]

Well this is between her and her insurance company. I would DEFINITELY call her bred and if the insurance adjuster want to argue about it that would be the position I would argue.

I now have a much better understanding of why my insurance premiums keep going up. Thank you for the enlightenment.

Msscamp, I'm with you all the way on not cheating our insurance companies. There's way too much of that already, and you're correct that it is the reason for excessive premiums. But there comes a time when people who faithfully pay their premiums deserve for their insurance company to be equally faithful about paying a legitimate claim.

I don't think anyone here was advocating anything dishonest or fraudulent. Dee's policy will spell out what she is eligible to claim. And I sure don't have any idea whether that would be purchase price, replacement cost, current fair market value, or some other arbitrary value. But in my opinion, an animal purchased as a calf sure doesn't deserve any depreciation in a year's time. In fact, that heifer has certainly appreciated in value. And while nobody could argue that she was safe in calf, I don't see anything wrong in saying that she had been bred. It just seems to me that her $1,100 calf now has added value. And if she had been palpated safe in calf, it would increase that added value more than just saying that she had been bred. I believe that she deserves to be compensated for all of the added value, but certainly nothing more.

Valid points, all of them. I agree that the heifer has not depreciated. If she is with calf she has certainly increased in value by quite a bit. I guess my biggest problem was with claiming her to be with calf with only one AI service. We AI'd for a number of years and, while we had a good settle %, there was no way of guaranteeing (sp?) which one's would or wouldn't settle until about 21 days later. If this animal was an older female with a record, no problem. Heifer's are somewhat notorious for not settling on the first service just because of their flightiness(sp?).

 

[SF]

Claim as much as you can Dee. You paid your premiums and she is certainly worth more now than before. I'd say minimum of 1500 to 1800. That is just my opinion.

I'm not in favor of cheating insurance companies any more than I'm in favor of cheating anyone else. Lets don't all get to feeling sorry for the insurance companies though. After what I'm witnessing with them not paying claims for a significant portion of the homes and business that were damaged down on the gulf coast, I can certainly understand why people may have bitter feelings about insurance companies. Lots of folks not going to get any money from their insurance companies. Taxpayers are going to have to pay instead!!!!!

Sorry, guess I'm just venting a little anger here at the moment about insurance companies.

 

[bigbull338]

i dont know how much she be worth.if she was reg. then she should be worth $1600. i know this b/c a friend just gave $2500 a hd for reg beefmaster bred heifers. scott

 

[jt]

imo, she is worth more than 1100... what would you have taken for her? or expected to give for her.. you have more than 1100 in her. her value is what it would take to replace her...

and the reason our ins cost is so high... well at least part of it.. is because of our court systems giving out such large settlements for frivilous cases.. put a cap/halt on that and you will see your premiums come down.

jmo

jt