glasgowcyclist
Charming but somewhat feckless
- Location
- Scotland
Our house was broken into a few months back and all of my wife's jewellery was stolen.
She compiled a full inventory and sent it to the insurance company's valuer and we've just heard back regarding settlement. They have valued her jewellery and made an offer that she can replace the items using vouchers valid at a large range of jewellery shops. They said that if she didn't want to use the vouchers she could have a cash settlement but this would likely be for 40-50% less because that's the amount of discount the insurance company would get if it was buying the items.
I don't understand this. Surely if the cost to her to replace the jewellery is x then that's what she should get, not x-40%. Much of it is no longer replaceable like for like, for example her engagement ring would have to be made as a one-off from photos we have.
Never having had to claim on a house policy before I am hoping someone knowledgable on here can give me some advice before we go back to them.
GC
She compiled a full inventory and sent it to the insurance company's valuer and we've just heard back regarding settlement. They have valued her jewellery and made an offer that she can replace the items using vouchers valid at a large range of jewellery shops. They said that if she didn't want to use the vouchers she could have a cash settlement but this would likely be for 40-50% less because that's the amount of discount the insurance company would get if it was buying the items.
I don't understand this. Surely if the cost to her to replace the jewellery is x then that's what she should get, not x-40%. Much of it is no longer replaceable like for like, for example her engagement ring would have to be made as a one-off from photos we have.
Never having had to claim on a house policy before I am hoping someone knowledgable on here can give me some advice before we go back to them.
GC