claiming on house contents insurance?

Question

Hi all,

I'm hoping someone can help me out here. I have lost a piece of expensive jewellery that was handed to me around a year ago. I am wondering if I can claim for this on my house insurance ? it's never going to replace this jewllrey as it belonged to my late father, but my mum thinks that I should claim on the insurance.

does anyone know if this is something that I could do? do you think the insurance company will pay out on this. I don't know the value of this but I'm sure I can find something of the same value I guess.

Answer 1

It's all in the details.

First, it depends on what type of policy you have and the specifics of the contract. Very few standard homeowners policies (condo, townhouse, and/or tenant policies) cover for what's known as "mysterious disappearance" of contents unless the item has been specifically scheduled on the policy. When you "schedule" an item on the insurance, you pay extra to have the item listed and you provide details about the item (usually including an appraisal of the item, particularly if the value is more than $2,500 -- though the threshold would vary by company.)

In other words, the regular contents coverage might have covered this piece of jewelry (assuming the value went over the amount of your deductible) if it were stolen, or destroyed in any kind of covered claim (like a fire); it's VERY unlikely that it will cover for the "mysterious disappearance" of any contents that weren't listed specifically on the policy ("scheduled") beforehand.

You can call your agent to check, of course. If you have any other pieces that you'd like protected for the future, though, you should probably list them on your policy. The coverage costs a little more, but it's really not terribly expensive.

Answer 2

homeowner's insurance usually has limits they will pay out on certain items...one of them is jewelry. Any valuable pieces of jewelry as well as art, collectibles, furs, things such as this should be insured individually with appraisals if necessary and/or sales receipts on a floater.

I would bet there is some coverage for jewelry on your homeowners policy, but with a limit...say $2500. Your dedutcible would also be subtracted from the payout. Depending on the amount of your deductible, it may not be in your best interests to file a homeowner's claim for such a small amount of money.

Depending on the company you may not be renewed or could be subjected to surcharges on the policy. It would be better to check with your insurance agent to find out exactly what type of jewelry coverage you have and if it would be worth it to file the claim.

Answer 3

If you have cover for individual valuable items that you take away from the house then you should be able to claim (eg you may have taken additional cover for a laptop or something like that). However, bear in mind that this is only one thing and will adversely affect future premiums plus you will have an excess to pay, so it may not be worth claiming.

Answer 4

I believe when you have specific items like that, you need to talk to the insurance company beforehand. When you do, you need pictures, replacement value appraisals, etc. done to the items you want to cover with the insurance. Otherwise, I believe the contents insurance is used for the fire, water damage, etc. to replace furniture and other items that belong to the house. You should double check.

Answer 5

Call them and ask. Usually homeowner's insurance covers the contents up to a certain value, so if you have $20,000 worth of coverage, they'll reimburse you for the estimated value of the jewelry. (As far as I understand.) I don't know if losing it is something they would cover ; usually it's when something beyond your control happens, but it's worth calling about.

Answer 6

all policies have different wordings so check the conditions on yours. I wouldnt expect them to pay for an item which is lost to be honest - you could easily find it again in your house. If it was stolen that would be a different matter

The only way to find out is to ring and ask!

Answer 7

it relies upon upon in spite of if your coverage coverage for contents lined unintentional injury cover. I propose you touch your coverage broking service who will propose you extra and ascertain the canopy. in case you haven't any longer have been given a broking service (and it extremely is one good reason you will possibly desire to have one!) and don't comprehend the coverage business company then in case you're paying with the help of direct debit your economic business enterprise assertion can provide a splash.

Answer 8

If you're not sure, ask an 'assessor' to deal with your claim on your behalf. They'll know best whether you can claim or not and, if you can, obtain a decent settlement for you.

http://www.ajcconsultants.ltd.uk

Answer 9

yes you can if you have cover for personal possessions, but you must try to claim anyway