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Is your insurance up to date?

(4 Posts)
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Greatnan Wed 16-Jan-13 09:51:30

I watched an interesting progamme this morning on BBC2. A couple had insured some gold jewellery for £4,000, which was twice what it had cost some years before. It was stolen and when they claimed the £4,000 they were told that the value had risent to £13,000 and they were underinsured and the policy was void. Eventually, Esure agreed that there had been no intention to defraud and they paid out, but the onus is on the customer to keep the valuations up to date. You should also take photographs of all you contents and keep documents in a fireproof metal box - or on line.

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york46 Wed 16-Jan-13 10:23:16

A friend was burgled and lost her vintage/antique jewellery. Instead of sending her a cheque in settlement of her claim, her insurance company sent her VOUCERS to spend in a high street jewellers which sells only modern jewellery, so she was unable to replace the original items with something similar.

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Greatnan Wed 16-Jan-13 10:25:57

I would have taken them to the Insurance Ombudsman, if they refused to honour the policy correctly. Big companies rely on the 'little people' being too ignorant/scared/unconfident to challenge them.

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Movedalot Wed 16-Jan-13 10:54:13

York there was a recent case where someone challenged that decision and won. I may be in the same situation having just lost an antique ring made in 1895.

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