Lost my ring...now what?

[Deleted User]

ringo_24601 wrote: »

Good lord, this scares me. My OH's ring cost 4 and a half grand but is valued somewhere near 8k... i've not insured it on our home policy as it added 50% to our annual costs and she doesn't wear it at work.

Gulp.

I really really hope you find yours

I think your OH is really brave - I could never wear anything worth £8k !! (Could never leave the house without bodyguards)

[Deleted User]

Well, we don't live in a rough area.. so no problem wearing it down the shops, plus she's not allowed to wear it when she goes to work.. her mums is worth about twice the amount and they've never insured it either.

I once went to a restaurant and a woman had a (we found out later) 18ct diamond.. it was HUGE.

AMILLIONDOLLARS

Valuable lesson learnt the hard way

I got burgled a couple of weeks ago and my engagement ring got stolen. It was given to me roughly 26 years ago and was about a carat. Now when my husband brought it all those years ago, certified/certificated diamonds were not that common. Anyway the loss adjuster put a value of about £3k for it. Unfortunately for me, I was only insured for a single valuable item upto wait for it.... £1500:eek: , we made the mistake of not getting the ring valued every five years for its true value, so did not get it properly insured on our policy. I will get a replacement but no where near the carat I had. Ringo, do yourself a big favour pay the extra premium, because if she loses the ring or it gets stolen (possibly from home), you'll find yourself saying what I did "If only!".

[Deleted User]

AMILLIONDOLLARS wrote: »

Valuable lesson learnt the hard way

I got burgled a couple of weeks ago and my engagement ring got stolen. It was given to me roughly 26 years ago and was about a carat. Now when my husband brought it all those years ago, certified/certificated diamonds were not that common. Anyway the loss adjuster put a value of about £3k for it. Unfortunately for me, I was only insured for a single valuable item upto wait for it.... £1500:eek: , we made the mistake of not getting the ring valued every five years for its true value, so did not get it properly insured on our policy. I will get a replacement but no where near the carat I had. Ringo, do yourself a big favour pay the extra premium, because if she loses the ring or it gets stolen (possibly from home), you'll find yourself saying what I did "If only!".

That is such a sad story. I'm really sorry.

Another sad story: My parents got burgled years ago and all mum's jewellery was stolen (they were in their 60's at the time); pieces she'd inherited and pieces dad had given her along the way, e.g. for anniversaries - all of it not only valuable but of enormous sentimental value (including her dead mother's wedding ring). Although it was insured, they'd never had it all valued, had no receipts, no photographs that the insurance company would accept, so got nothing. Ever since, my mother has stuck to costume jewellery only; she's never got over it (and probably never will).

missile

ringo_24601 wrote: »

Well, we don't live in a rough area.. so no problem wearing it down the shops, plus she's not allowed to wear it when she goes to work.. her mums is worth about twice the amount and they've never insured it either.

I once went to a restaurant and a woman had a (we found out later) 18ct diamond.. it was HUGE.

What is the point in buying a ring that she is not allowed to wear?

poet123

I think the insurance co will want to speak to the person who originally owned the ring to authenticate what you say. So it may be wise to come clean before that. Everyone makes mistakes and loses things,and if the weight loss is an issue,it is not your fault.

On the TV a few weeks ago a woman reported her engagement ring missing,lost on holiday(she had split from her fiance)and they contacted him(without her knowledge) and he had the ring!!so they sent the fraud team round. They do seem to be very thorough.

jaxxy00

My experience of something similar happening although of nowhere near the value was when i lost my gold watch a few years ago. I had owned it for about a year or so and it was special to me as my hubby had given it to me for xmas (always wanted one but couldnt afford before and as im allergic to anything other than gold i wasnt able to wear a watch until now).

Just after the second xmas of having it we had been visiting over xmas etc and got home when i realised it was missing. I hadnt got it on so it must have came off somewhere. I didnt want to tell him, so i discreetly looked all over for it, in the car etc. After a couple of days i realised i couldnt find it so told him and decided to ring our insurance company, Direct Line. The value was £250 and they took some details over the phone about it and said someone would be in touch about a replacement. I think it was the next day or two but the phone rang and it was a jewellers who had been contacted by Direct Line and asked to ring and we were to go to the shop and pick a new watch out. (We may have been contacted by letter, i cant remember for sure as it was sometime ago).

Now wether it was because we had never claimed before, but i couldnt believe how easy and hassle free it was to claim and get a replacement. The fact is though i didnt want to face that i wasnt going to have my own watch and that i had to get a new one so left it a few days before going to the shop. We still kept looking for mine and hubby actually found it in the car inside the rail that your car seat slides on when adjusting the position. I was soooo happy. Obviously i then got on the phone to my insurance and the jewellers to let them know i didnt need to go and pick up a new one and to cancel the claim (a few people have said i was stuped and should have gone and got the new one anyway, but thats wrong and not what i would do).

If they ask lots of questions etc then i would think its probably because of the value. I do hope somehow you find your original though, as even if it looks identical, a replacment would just not be the same. Have you thought of putting a sign up or ad in the paper with a small reward? So people are not aware of the value put that its due to sentimental reasons. Just an idea.

beepboes

Thanks to everyone for your responses. I was told yesterday that the claim had been 'validated' for the amount of £4,500, and i have someone from the loss management group coming to see me on Wednesday to discuss this. A couple of questions really, firstlyif its been 'validated' does this mean that i am definitely getting a replacement? Secondly, is the value more as it would be near impossible to get a one carat ring for 3k nowadays, which is why they are giving me 4.5k? And lastly, what sort of questions do you think they will ask when they come on Wednesday, as i have already been over everything on the phone?

Any advice would be gratefullyreceived, thanks

Retired_I.F.A.

I think you will find validated only means they have checked to see what it is covered for under the policy and that you have a claim up to a max of £4500.

Note though that a jewelers valuation for insurance purposes is pretty much worthless. You can buy a ring for £1000 have it valued at £3000 lose it and have it replaced. What the insurance company wont tell you though is it probably costs them £400 to replace it as they can do so at much the same price as the jeweler bought it for or made it for. This is why nowadays insurers will replace like for like rather than pay out the sum insured.

[Deleted User]

missile wrote: »

What is the point in buying a ring that she is not allowed to wear?

Well, she can't wear it for work as she's a Nurse. She does wear it when she's not at work though

Simple