advice need about insurance claim

[maggiemay48]

I need some advice on this I lost some jewely.the insurance company have sent me a card to spend at there jelerys.But i want same items i lost Or similar, And they dont have them Can they make me spent these where they want? Or can i chose? maggie

[ED1237]

You should be able to choose. I would write to them and advise thier jewellers do not offer the same product as the insured item and therefore you wish to purchase elsewhere

[Yorkyclaims]

You will need to get an estimate from the jeweller of your choice, and they will either arrange direct billing with the shop, or send you a cheque payable to the company. Otherwise it will be classed as a cash settlement, and they will knock a lot off the settlement

[maggiemay48]

You will need to get an estimate from the jeweller of your choice, and they will either arrange direct billing with the shop, or send you a cheque payable to the company. Otherwise it will be classed as a cash settlement, and they will knock a lot off the settlement

Say the amount came to £1750.What will they knock off that?

maggie

[Yorkyclaims]

depends on the policy wording. If it says something like

 

If payment is by cash a deduction will be made for wear and tear

 

then you would be looking at a deduction of 10% / year up to a maximum of 50%.

 

The Insurance Company might insist on you getting an estimate from your own jeweller - they might not even let you cash settle.