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Engagement ring insurance
lettice
Posts: 63 Forumite
Hello
I recently received an engagement ring from Blue Nile and want to insure it before I wear it out of the house (as we have home insurance but not personal belongings cover)!
My appraisal provides the retail replacement value but then goes on to state on the reverse that, 'No taxes have been incorporated into the estimated appraised value.' Should I enter the valuation plus VAT @ 20% when obtaining a quote and could this cause problems when I send the appraisal off to the insurer? It doesn't actually say on the appraisal what the total inc. VAT is. Also, if VAT falls, I will have over-insured by a little bit - again, is this likely to be a problem?
Please help! I really want my ring to be protected so I can start showing it off!
I recently received an engagement ring from Blue Nile and want to insure it before I wear it out of the house (as we have home insurance but not personal belongings cover)!
My appraisal provides the retail replacement value but then goes on to state on the reverse that, 'No taxes have been incorporated into the estimated appraised value.' Should I enter the valuation plus VAT @ 20% when obtaining a quote and could this cause problems when I send the appraisal off to the insurer? It doesn't actually say on the appraisal what the total inc. VAT is. Also, if VAT falls, I will have over-insured by a little bit - again, is this likely to be a problem?
Please help! I really want my ring to be protected so I can start showing it off!
0
Comments
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The Insurers may or may not want to receive a copy of the valuation for the ring, after taking out Insurance. Many just want this to be available if there was a claim.
You need to Insure for the replacement cost including VAT, so add this if the valuation does not include.The comments I post are personal opinion. Always refer to official information sources before relying on internet forums. If you have a problem with any organisation, enter into their official complaints process at the earliest opportunity, as sometimes complaints have to be started within a certain time frame.0
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