Value of Bull

[Baker9]

Neighbours bull broke in and injured my bull which had to be put down.
Where do I stand on the value of the bull? I only had him 22 months and it was bought at a farm clearance sale.
I have the auctioneers invoice and vet had been out see bull after he was injured. I am claiming against neighbours public liability insurance after talking to him. I do not want to start a war over this.
What value will the insurance put on the bull and how does the insurance excess work, I have never had to do this before and feel gutted that I have lost my bull.

 

[Sir loin]

Purchase price is a base line the quality of your calves he has sired should be taken into account. edit plus vet bill.

 

[multi power]

Purchase price is a base line the quality of your calves he has sired should be taken into account. edit plus vet bill.

dont forget you now have no bull, it may be an important/busy time for the bull, knock on effects in calving pattern

 

[spanners]

just make sure you get enough to purchase a replacement, a better more expensive one

 

[GenuineRisk]

To avoid falling out with your neighbour, would it be an idea to leave this in the hands of your insurance company to deal with his insurance company ? That way personalities etc can be left out of the equation.

If the bull was 3yo or under, then he value will have increased since you purchased him but you also will have had calves by him, so that's a balancing act. On your balance sheet, remember, he will be a decreasing asset each year. But you have to replace him, so cost of replacement bull, fertility insurance (unlikely you'll want him working now?), search fees and transport to farm. I think you'll be on to a loser trying to claim for lost income/profit but that's down to a decent agent to deal with.

My advice would be if you are on good terms with your neighbour and want to keep it that way, then being reasonable will pay in the long term.

Sorry that you lost your bull!

 

[Davy_g]

As I see it, you need what will bring a bull of the same ( or slightly better) quality home. Plus all expenses.

The crux of the matter will be how much you paid for the bull, you will need to tread careful around this.

 

[multi power]

To avoid falling out with your neighbour, would it be an idea to leave this in the hands of your insurance company to deal with his insurance company ? That way personalities etc can be left out of the equation.

If the bull was 3yo or under, then he value will have increased since you purchased him but you also will have had calves by him, so that's a balancing act. On your balance sheet, remember, he will be a decreasing asset each year. But you have to replace him, so cost of replacement bull, fertility insurance (unlikely you'll want him working now?), search fees and transport to farm. I think you'll be on to a loser trying to claim for lost income/profit but that's down to a decent agent to deal with.

My advice would be if you are on good terms with your neighbour and want to keep it that way, then being reasonable will pay in the long term.

Sorry that you lost your bull!

very good advice

 

[Clive Tee]

I would claim for all the costs, hassle and lost income if any. I can't see why your neighbour will be bothered about what you claim for as he isn't paying! I would have though he would be pleased if you were properly re-imbursed by insurance, surely? What will / should make him feel bad, is you losing out in any way.

 

[Baker9]

To avoid falling out with your neighbour, would it be an idea to leave this in the hands of your insurance company to deal with his insurance company ? That way personalities etc can be left out of the equation.

If the bull was 3yo or under, then he value will have increased since you purchased him but you also will have had calves by him, so that's a balancing act. On your balance sheet, remember, he will be a decreasing asset each year. But you have to replace him, so cost of replacement bull, fertility insurance (unlikely you'll want him working now?), search fees and transport to farm. I think you'll be on to a loser trying to claim for lost income/profit but that's down to a decent agent to deal with.

My advice would be if you are on good terms with your neighbour and want to keep it that way, then being reasonable will pay in the long term.

Sorry that you lost your bull!

He had served all the cows but one, I will know better on Friday when I am reading the TB test and getting the cows scanned.. Replacing him for the money I paid for him will be very difficult ( £1500) and I do not want to or will fall out with my neighbour over this, life is not worth it. It is for the insurance company to sort out but I do not want to be taken to the cleaners. My younger sister told me a few weeks ago she has MS so really as regards the bull....there is more to life.
Thanks for all the advice.

 

[multi power]

quite right not to fall out with your neighbour, it could be the other way round next time, definetly you dont want to be ripped off by insurance company

 

[Sir loin]

Are you able to find out how much the bull cost from the breeder in the first place? do you have a pedigree certificate? can you get one of similar pedigree?

 

[neilo]

He had served all the cows but one, I will know better on Friday when I am reading the TB test and getting the cows scanned.. Replacing him for the money I paid for him will be very difficult ( £1500) and I do not want to or will fall out with my neighbour over this, life is not worth it. It is for the insurance company to sort out but I do not want to be taken to the cleaners. My younger sister told me a few weeks ago she has MS so really as regards the bull....there is more to life.
Thanks for all the advice.

As Clive Tee said, you won't fall out with your neighbour, your negotiations will be with the claims assessor from the insurance company, who is often a part-time farmer with little idea of the value of pedigree stock, IME. You need to make sure that you are not out of pocket in any way over this unfortunate incident, and be prepared to fight hard. What you paid for the bull, has nothing to do with his value. I certainly wouldn't disclose the figure to the claims adjuster. Maybe start with the average from society sales for that breed (if you consider him only 'average'), as these are published figures. Then add on your inconvenience and other costs. Your neighbour wouldn't even know what values you discuss.

Sorry to hear about your sister.