Home insurance claim for burglary.....advice pleeease

kamazad

i have 40k cover in total from the claim i thought that the gold would be around 10k that is roughly what i paid for it but it has ended up being around 25k cause of the price of gold going through the roof and the rest of the items are around 12-15k so it will cover it just about

dacouch

You are going to have a lot of problems with an Insurer with that claim.

Insurers generally stipulate that no more than typically 30% of the contents sum insured can be the total for valuables eg jewellery although some insurers have a set amount which can be as low as £5000 but is often £10000. This is because standard Insurers do not want to insure people who have above average levels of valuables due to the increased chance they will claim and the size of the claim. (Valuables are often the type of contents a thief will target.

The problem this causes is that there is a good chance the Insurer would not have accepted you as a client had they known the value of the jewellery. This could entitle them to void the policy.

The balance of your contents does not look anywhere enough to replace a normal families contents as well.

If the AA have not asked you the correct questions / spelt out any restrictions on valuables or have miss led you, then you might have a claim against them if the Insurer refuse the claim. The ombudsman has case histories on bad questioning and the broker being vague but this type of issue is not an exact science with the Ombudsman.

It is very very important that you are totally truthful to the Insurers about all matters on the claim and the items that were stolen, they will spend a lot of time investigating a claim of this size. If they discover any lies it is possible for them to deny the entire claim.

How have you amassed such a large amount of jewellery, was it all bought by you or does it include inherited items

kamazad

i spoke to another claims insurer/loss adjuster and he told me that cannot void claim for the limts they will just pay the max so if the maximum they pay is 10k for gold then thats all they will pay even if the they amount exceeds it. The reason why we have that value of gold is cause im pakistany and the gold is my wifes gold most of which wa bought and given to her on our wedding. The thing is that it was not that much when we bought it and what i paid and was bought was approx. 10k which i think is what the limit is on my insurance for each types of valubles but since the price has rocketed of gold which i had no idea that why the amount has jumped up. how can they try denying the cover anyway you pay for how much insurance cover you want and if that was not enough when nd if you claim then thats your loss isnt it?