One of the hardest things for many breeders is determining the value of an animal. When you are determining the value of a bull, a good starting point is the animals purchase price.
In case of an animal from your own breeding program, people often start with three-times the stud fee (or what what it would be if you charged someone else to use that sire). If the stud fee was $4000.00 when the animal was born you might want to insure him for $12,000. Then you add to that amount as his career progresses. His increased value is based on any money spent training him, money spent hauling him down the road, competitions he may have won, the type of scores he's getting, and what type or organization or events he's competing at- is it high school rodeo, ABBI Futurity or Built Ford Tough Series? The value gets determined from there.
As an animals career develops from there, you can increase the value of the policy. If a bull does well at Futurities or Classics you may want to increase it before he goes on to the next stage of his career. If he starts to produce offspring that really buck, you may want to increase it again. Nothing will hurt more than loosing a bull in his Prime. Having the proper insurance will at least lessen your Financial Loss.