burglary - jewellery repayment

holymary

Hi all, Am very new to this site so please forgive me if this has been done before. I was burgled on 7th February. They ripped off a window to get in. Took only my jewellery box which of course had all my stuff in it. Direct line came out a week later to assess damage etc. Window is replaced (this week) and money in account for misc items. However, I spent 2 hours talking to a jewellery assessor on Tuesday. He informed me I will be given 'vouchers' for a high street jewellery shop. My stuff was antique and designed by me! Unique pieces. Do I have to accept vouchers or can I insist on money? My plan is to go to the jewellery quarter in Birmingham and have new earrings etc made to my design (as I did before). Have they the right to tell me where I can shop? Any help would be gratefully received. Thank you in advance. ((I would add, that the burglars ripped off the security lights, tore the inside alarm and ignored the barks of my dogs (who were locked in the conservatory) even the Police were surpised that my house was targetted.))

InsideInsurance

holymary wrote: »

My stuff was antique and designed by me! Unique pieces. Do I have to accept vouchers or can I insist on money?

How can they be antique and designed by you? How old are you? Do you mean they are custom made but in an antique style?


Generally speaking, insurers are entitled to reduce cash settlements by the amount that of discount they receive from their preferred suppliers. The key exception to this is if the preferred suppliers are unable to supply something equivalent.

The first step is to find out who their suppliers are and secondly to validate that they have nothing similar to what was stolen. Then challenge them on these grounds

holymary

Thank you for your reply. I am 56. My jewellery was amassed over the last 40 years. Some belonged to my mother and therefore was old. Some I bought (or had bought for me) from antique shops/fairs. Some I designed and had made. Sorry I didn't make this clearer. Basically, I have searched the web and have found nothing like the stuff I lost. I also know now, that I should have insured some items seperately. I dont like the idea that they can tell me where to buy replacements. Especially as most of the pieces were so unique.

InsideInsurance

holymary wrote: »

I also know now, that I should have insured some items seperately. I dont like the idea that they can tell me where to buy replacements. Especially as most of the pieces were so unique.

You only need to insure items separately if they exceed the maximum insured value for a single item. I dont know what DL's limit is these days but Axa (direct proposition) covers up to £10,000 for a single item without it needing to be specified and items over £10,000 can be covered simply by specifying them (I dont know their ceiling as I've nothing over £10k to test it)

They can only specify them if they can provide a suitable replacement. If an item was a standard 4 claw solitaire with a 1ct certified diamond of unknown brand then a high street replacement is suitable. If you had a Channel fine jewelry necklace then clearly H Samuels or Goldsmiths aren't going to have suitable replacements.

holymary

Only two pieces were standard designs bought from high street (Beaverbrooks). I designed my engagement ring, so I doubt if H.Samuel has anything like it. I undervalued several rings, because I didnt think about the rising cost of gold and gems. My engagement ring cost £1500.00 38 years ago. So it must be worth more than the £2000 per item Direct Line insists upon. I am wise after the fact. Thanks for your help.

violettasomerset

We had a similar break-in last year where they took some of my jewellery. The thieves didn't take huge amounts, and none of it was highly expensive (funnily enough they didn't notice my wedding ring or engagement ring, which are the most valuable but were in among my "junk jewellery" cheap dangly earrings), but they did take some gold earrings I'd had handmade for my 18th birthday and an Edwardian necklace I'd had from my late grandma.

I had to go through a description of each item with the jewellery assessor, plus send photos/drawings as appropriate and giving prices (if I knew them) from when I received the items. The assessors must have made some adjustment to current prices, as I would have estimated no more than £300 for all of it, but I received over £1000 in payment.

I highlighted which items were not "off the peg", and I ended up receiving around 1/3 of the value in vouchers (to cover standard things like silver chains or stud earrings) and 2/3 in a cheque to cover the non-standard items or ones they couldn't find a comparable item in their shops. I think all of the proper jewellery I had was bought as gifts for me - and it turns about that it is quite hard to spend over £1000 on jewellery for myself (even though it doesn't buy very much "nice" stuff with todays prices), so I've not yet bothered and I'm using the money for other things, though obviously the vouchers must be spent in a jewellers.

dacouch

holymary wrote: »

Only two pieces were standard designs bought from high street (Beaverbrooks). I designed my engagement ring, so I doubt if H.Samuel has anything like it. I undervalued several rings, because I didnt think about the rising cost of gold and gems. My engagement ring cost £1500.00 38 years ago. So it must be worth more than the £2000 per item Direct Line insists upon. I am wise after the fact. Thanks for your help.

It will be well in excess of the £1500 in value now.


http://www.financial-ombudsman.org.uk/publications/ombudsman-news/10/oct-repair-replace-cash.htm

holymary

Thank you for the link.

l0u1se

Like everybody else has said, if they can't provide a suitable replacement they cannot deduct any discount. Most of the jewellery sounds bespoke and old so it is unlikely that a modern equivalent would be suitable