Jewellery valuation

kmd123

My wife’s wedding band and eternity ring were stolen during her stay in hospital. We obtained a valuation from our boutique jeweller where the originals were purchased. Our home insurer RIAS referred the claim to LMG who agreed with the valuation but require us to use one of their preferred suppliers.  For sentimental reasons and given the eternity band is bespoke we would like to use our own jeweller but LMG have only offered a cash settlement which is 50% less than what it will cost us to replace them which our insurer RIAS is only prepared to pay which seems most unreasonable 

gwynlas

it is unreasonable as obviously not replacing like with like if that is what you are insured for. If you have a cheap insurance poilicy then you get what you pay for which is likely to be Argos rather than Hatton Garden quality replacements,
Do you have original receipts/valuations for insurance purposes?

HHarry

We accepted a 10% reduction for a cash payment when we were burgled - except for an antique pocket watch, which their preferred suppliers couldn’t match, where we were paid in full.