Lost engagement ring - claiming on insurance

[Deleted User]

Wife is bit gutted but it looks like its lost....

Trouble is it was bought over 25 years ago. Good jeweller who used to keep records but they've gone bust. I no longer have the receipt.

All I can do is guess how much it cost at the time. If I had to guess I'd say £400-£500.

In terms of insurance claim, what will insurer need from me? (Yes I do have personal possessions cover up to £2000 per item).

Will they need a police report etc?

paddyandstumpy

Normally you'll need to provide either POO/POP which is proof of ownership or proof of purchase.

Any picture of her wearing it should suffice.

Ask them if they'll need a police report, then get one if needed.

[Deleted User]

paddyandstumpy wrote: »

Normally you'll need to provide either POO/POP which is proof of ownership or proof of purchase.

Any picture of her wearing it should suffice.

Ask them if they'll need a police report, then get one if needed.

Jeez thats going to be difficult. Pretty sure I havent got original receipt...

Time to dig through old photos maybe.

paddyandstumpy

Basically you just need to prove it exists. I'm sure you'll have some photos from the last 25 years...?

[Deleted User]

paddyandstumpy wrote: »

Basically you just need to prove it exists. I'm sure you'll have some photos from the last 25 years...?

Ha ha of course. But wading through them. And photos dont normally focus on someones hand lol.

Oakdene

How about your wedding photos? Assuming you're married that is? There is often a picture of the ring hand there

[Deleted User]

Oakdene wrote: »

How about your wedding photos? Assuming you're married that is? There is often a picture of the ring hand there

Good point - I know where the photos are too. 20 year ago mind.

[Deleted User]

Ah might be able to get a copy of the receipt after all. But the cost of a replacement in 2017 is more than it cost in 1992? How does that work?

I understand insurers give voucher for replacement ? Which is fine by me. I can see how claims for this sort of thing can be problematic. After all, split up - I guess people see this as easy money for an unwanted engagement/wedding ring then?

[Deleted User]

Nah no receipt. All I can do is give a rough estimate of the cost (it was 25 years ago!). IS this going to be good enough for insurer?

paddyandstumpy

They'll need the photo (to prove it existed and owned by your wife), a description and as much info you can provide.

They'll then estimate value based on that, and either offer to replace for you using their own suppliers (if they offer that, not all insurers do), a gemcard to be redeemed at certain jewellers or a cash settlement, which is limited to what it would cost them to replace the item.

Hope that helps.

FutureGirl

Don't forget though that the onus is on you to prove the value of your claim.

If all you've got is photos of the item, then they're unlikely to value it at the price you might be expecting for it.