Home insurance claim for stolen watch

dave06600
dave06600 Posts: 4 Newbie
edited 16 May 2018 at 8:45PM in Insurance & life assurance
Hello people,
I'm hoping you can help advice on the following problem I have.

No proof of purchase receipt for watch as it was a gift from an ex whom I no longer speak with.

1) My expensive watch was stolen from my home - as well as some other small items.
2) I have the watch insured as extra on my home insurance policy to the sum of £4k. Although it's worth a bit more.
3) I reported it to the police and received the crime ref number etc.
4) Everything was correctly reported to the insurance company.
5) I have provided the insurance company with pictures of the watch in it's box and me wearing it recently, etc.
6) I told them that I still have the box only with manual if they want them.
7) I also managed to find a receipt from a pawn shop when I pawned it last year which shows me having paid over £2,500 to get it back. This receipt is in my name and paid with my credit card only about 8 months ago. They said this is no good! That really surprised me!!

The insurer has told me that they need proof of purchase and asked me if they can contact my ex who I have explained to them lives abroad and has no interest in helping me. She's busy in her own life and we don't even get on now. I've asked her to send the receipt but she told me she can't find it. I've explained all this to the insurer. The watch was purchased in Italy as far as I am aware. Def not purchased in the UK and it's less than 2 years old.

Why won't they pay out with all the information I have provided? It's been 2 months now and they still expect me to get the receipt from my ex somehow!!

What can I do??? It's my first ever claim too.

Thanks in advance for any advice.

Comments

  • comeandgo
    comeandgo Posts: 5,731
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    I know my insurance policy states that my valuables have to either have receipt or valuation from jeweller and either has to be less than two years old. Means getting the items valued every two years.
  • FutureGirl
    FutureGirl Posts: 1,252
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    When you make a claim, you have to provide evidence that you have owned the items claimed for (this is a T&C within your policy, and industry standard for theft claims, especially to the value of more than £4k). The insurer will need proof of purchase, so that they can see the exact model of the watch, and ensure it is genuine, and not a counterfeit from somewhere like eBay.

    The receipt from the pawn shop - what does it say? Does it have the full details of the watch on the receipt? If not, then it isn't helpful.

    Photos, and the box, don't really help in showing it's a genuine item.

    From experience, even if you complain and go to the Ombudsman, they ill side with the insurer on this one.

    If it's only specified for £4k - that is the most you'll get for it.
  • tacpot12
    tacpot12 Posts: 7,894
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    They need to know that the watch that has been stolen is the genuine article. There are a lot of fakes around, and a photograph of it on your wrist does not prove it is genuine. Does the box or the manual have the serial number of the watch anywhere on them? Did you report the serial number of the watch to the police?

    If you have been paying any extra premium to cover the watch, you might want to argue with the insurer about the extra premiums being refunded if they are not going to pay out on the watch because some basic requirement for cover was not met (by you).
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.
  • Yes the pawn shop receipt has full details of the watch - serial number, model, etc.
    Should this not be enough as proof?
  • dacouch
    dacouch Posts: 21,637
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    I am guessing this is an omega or more likely Rolex.

    There are many fraudulent claims for these watches and Insurers are very particular in checking the claims
  • I'd just like to add that if the watch was a fake then the pawn shop would not have loaned me any money for it. And why would I have even bought it back for around £2.5k? The pawn receipt shows the watch name, weight, my name, price paid to get it back etc. That's basically a valuation and a receipt too is it not? Current value is £4,300 but only insured for £4,000 which is fine by me. Just running out of patience and my ex is on a power trip knowing that I need her to send the receipt. I don't think she will.
  • dacouch
    dacouch Posts: 21,637
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    dave06600 wrote: »
    I'd just like to add that if the watch was a fake then the pawn shop would not have loaned me any money for it. And why would I have even bought it back for around £2.5k? The pawn receipt shows the watch name, weight, my name, price paid to get it back etc. That's basically a valuation and a receipt too is it not? Current value is £4,300 but only insured for £4,000 which is fine by me. Just running out of patience and my ex is on a power trip knowing that I need her to send the receipt. I don't think she will.

    These watches have a huge amount of fraudulent claims, it is not unknown in the dodgy claims for claimants to go to such lengths as borrowing a watch from a friend to pawn to obtain "proof" of ownership.

    I am not saying you are doing this, just explaining why this would not be solid proof of ownership to an Insurer.

    You may find that a phone call to the Ombudsman may help but it is not guaranteed they will help.

    The Insurers will probably accept a proof of purchase from your ex by way of a bank statement / credit card statement showing the purchase.

    Rolexes are espdcially prone to fraudulent claims as the "Stolen" watch can be sold on to a friend for almost the new value of the watch whilst also receiving the payment from the Insurer. People often turn a blind eye to buying a moody Rolex because they are such a sought after status symbol.

    Here are a few of the fraudulent Rolex claims from a quick google search

    https://www.google.co.uk/search?source=hp&ei=KKn8WvTeIs2NkgXDhbeACg&q=fraudulent+rolex+claim&oq=fraudulent+rolex+claim&gs_l=psy-ab.3..33i160k1.167.5360.0.5855.22.19.0.3.3.0.159.1537.17j2.19.0....0...1c.1.64.psy-ab..0.19.1356...0j0i131k1j0i10k1j0i22i30k1.0.vAGMiHnoUwI
  • Zorillo
    Zorillo Posts: 774
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    If you were going to commit such a fraud, you'd probably concoct a story almost like yours. No original receipt, a solid reason why you can't get the receipt, some easily knocked together evidence that you possessed the watch for at least the length of time it took to take a photograph of you wearing it, and a pawn shop receipt to lend some sort of validity to the value you are claiming.

    I am not for a second suggesting what you've told us isn't true, but I can see how it looks to the insurer.
  • DCFC79
    DCFC79 Posts: 40,598
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    dave06600 wrote: »
    I'd just like to add that if the watch was a fake then the pawn shop would not have loaned me any money for it. And why would I have even bought it back for around £2.5k? The pawn receipt shows the watch name, weight, my name, price paid to get it back etc. That's basically a valuation and a receipt too is it not? Current value is £4,300 but only insured for £4,000 which is fine by me. Just running out of patience and my ex is on a power trip knowing that I need her to send the receipt. I don't think she will.

    If she doesn't have the receipt then she doesn't have it, it's most likely either been lost in her moving or it's been thrown away.

    Wish you luck in getting a favourable outcome.
  • Zorillo wrote: »
    If you were going to commit such a fraud, you'd probably concoct a story almost like yours. No original receipt, a solid reason why you can't get the receipt, some easily knocked together evidence that you possessed the watch for at least the length of time it took to take a photograph of you wearing it, and a pawn shop receipt to lend some sort of validity to the value you are claiming.

    I am not for a second suggesting what you've told us isn't true, but I can see how it looks to the insurer.

    Yes I can see your point I guess. However, I did pawn the watch for 6 months which takes us back about a year now so it was a long game to play if it was attempted fraud. Which it isn't.
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