Contents insurance help

matt80

Hi,
I recently got engaged in New York where I bought a ring from the well-known Tiffany jewellers. I phoned my current insurers (Nationwide) who said that if it was lost of stolen they would replace the item with a similar item from their own jewellry suppliers.

I understand that many policies work this way, but we would very much like to be able to go to Tiffany (in London!) and choose the replacement from there. Are there any policies that will let me do that?

Thanks,
Matt

mara

Hi,

Most policies tend to try to replace items via their own suppliers. You are entitled to have a like for like replacement item and as its highly unlikely that Nationwide's jewellers could provide you with a Tiffany ring, they would have to agreee to cash settle. If they dont agree, follow their complaint process & if they still dont agree, take it to the FOS. THe FOS take the line that it is unreasonable to force people to replace specialist jewellery items through suppliers, so most insurance policies should follow this ruling.

HTH