Is it worth claiming on house insurance for lost wedding ring ?

GoodWork

Hi, I recently lost my wedding ring and I'm wondering if its worth claiming on my house insurance policy or just paying for replacement myself. My concern is my premium next year will go up by the amount of claim so it might not be worth claiming ? If anyone has any ideas please, I would be grateful. Thanks

MikeJXE

Have you got a recent professional valuation for the ring ?

If not you will struggle 

Veteransaver

Depends on how much the excess is too. Also if it was a really expensive ring and wasn't separately insured it might not be covered anyway, Eg worth more than £1500.
And yes your premium will likely increase for next several years, as you need to declare any claims for previous 5 years normally when you renew.

DullGreyGuy

GoodWork said:

Hi, I recently lost my wedding ring and I'm wondering if its worth claiming on my house insurance policy or just paying for replacement myself. My concern is my premium next year will go up by the amount of claim so it might not be worth claiming ? If anyone has any ideas please, I would be grateful. Thanks

How much is the ring?
Where/how did you lose it?
Have you checked your policy to make sure it would be covered? considering any inner single item limits? if you have personal possessions cover?

GoodWork

The ring is only about 9 months old. I have valuation for insurance from Hatton garden jewellers where it was made. I need to find it but think worth about £1800. It is specified on policy, so it is covered. I think I lost it in train loo as I noticed it missing whilst on train. I went back 20 mins after I had been but not there. I'm just wondering if my policy will go up by £1800 over next few years. If so I might just take the loss and pay myself and be more careful next time !

HumberFlyer

What is the purpose of insurance then if you end up paying back the claim eventually. If that would be the case, to me just sounds like you are given a loan by insurance companies.... that would not be my idea of "insurance"

wongataa

GoodWork said:

I'm just wondering if my policy will go up by £1800 over next few years.

That is unlikely.  Insurance fluctuates every year so if there was a claim it is hard to know how much effect it had on the price.

LightFlare

Will your house insurance cover you for losing something on a train ?

Check the policy and wording

Sleepysophie

I attempted to claim for an iPhone this year (dropped it in a hired hot tub and I think the chlorine shorted it) The cost of the phone was around £1.2k and was covered on my policy but I was told I needed to pay £450 in excess and also go and get a quotation for a repair. I wasnt able to do that as it wouldn't turn on to put details into and it was still on FindmyIphone or something? (I won't pretend to understand it?). I was also advised my premium would rise due to having had a claim. I didn't bother in the end. I have never claimed in the past (20+ years) but I can see why people don't. [disclaimer: I did try to claim once for a flat roof but was told that was wear and tear?] Its just a lot of hassle. I had to have loads of details for it [the pone] too like contract length and serial number etc. The first call handler was really quite nice but when I called back with the details and got someone else, she made me feel like I was a fraud. Her tone with me was awful. I won't be returning to Tesco for home insurance this year, that's for sure!