Most people know that not having enough insurance can be dangerous. If you don't have enough insurance on your home, contents, or jewellery, you won't get enough money to buy new things if something happens to them.
You might be over-insured if you don't need it. It sounds like this means you'll get a bigger payment and have enough money to replace your belongings, as well as some extra money.
Call: I got a call last week from a woman who said that she was having problems with her insurance provider. In the past few months, she'd been burglarized at her home. She was now dealing with the stress of filing an insurance claim for her pricey jewellery and watches. This is what happened:
To keep her valuables safe, she had been paying a fee for many years. Her valuables, which were appraised and insured for less than £85,000, were safe. Then, she thought that because of that, she was safe. Why can't she do that? She was paying a lot of money in order to get a lot of money back - enough to replace all of her things.
Then there was the theft.
She made a claim.
Her insurance company told her that she didn't have enough proof to back up her whole claim. It was cheaper for them to pay a settlement of £20,000 than for her to get £85,000 in cash.
This storey has two main points. What are they?
The insurance company is not required to make sure that you have all of the documents you need. Because of the small print, they'll take your premiums and then not pay out for years. If you want to cover your valuables up to £85,000, they'll let you. It's up to you to take the brunt of the work. It's important to know exactly how much money your money is going to pay for.
Documents that show how much your jewellery is worth are very important if you need to make a claim. Make sure you update your valuation records every two or three years to account for changes in prices for diamonds, stones, and precious metal.
The process of valuing jewellery and watches is very long. They're like wills in that it's often only after it's too late that people realise how important they are. With the current valuation documentation, this woman would have been able to get the whole £85,000 claim.
I now have a service where I can give you an estimate the same day. If you have any things that haven't been appraised for insurance value in at least three years, please let us know so we can help you.
we offer the best watch valuation Cardiff and ring valuation cardiff in cardiff
