Can You Prove You own Your Jewellery?
If you suffer a loss, theft or accidental damage to a piece of jewellery or a watch and you make a claim, the onus is on you to prove ownership.
It sounds easy and straightforward, doesn’t it?
It rarely is.
A guy I know had his house burgled. Lots of items were stolen and damaged, including several pieces of his wife’s jewellery. He put in a claim for a total amount of over £20,000 and the insurance company offered him a settlement of just over £3000. This was to cover the cost of the windows, which were smashed in the burglary and also a couple of the smaller items where he was able to provide original receipts. All the other items he claimed for were denied as he had not provided sufficient proof of ownership.
So, what proof did they claim was insufficient evidence of ownership?
Valuation documents that were over 5 years old AND several photos of his wife wearing the jewellery.
It wasn’t enough. They wanted absolute, up to date, accurate and irrefutable proof of ownership.
So, what do you need to ensure you have sufficient evidence of ownership in the event of a claim?
The truth is, most insurance companies don’t want to pay out your claim in full. It is in their interest to pay out as little as possible. The onus is on you. You need to provide proof of ownership, irrefutable, professional, up to date proof that you own your items. A document detailing how much it would cost to replace them in today’s market will also speed up your claim and make denying your claim very difficult.
Call 01423 523596 to book your valuation today.