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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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Hello My insurance company have valued my lost jewelry at

Resolved Question:

Hello
My insurance company have valued my lost jewelry at £1900 which I have agreed with them is acceptable. They now have said that I have to buy the replacement jewelry from their approved dealers on a gift card. I have check around lots of their dealers and none of them appear to have anything that is anywhere near the style I am looking for.

They now say if I want to go elsewhere to purchase my replacement in cash that the value would be £400 less !

Is this correct? Since they have agreed a value of £1900 - I don't see why I should lose £400 because they cannot provide a replacement.

Many thanks
Debbie Dillon
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts :

Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

What does the policy terms say about such problems please?

Alex Watts :

Is there a reason why they are making you take a gift card?

Customer:

Hello Alex

Alex Watts :

Hi

Customer:

My insurers have passed it to a a third part who handle these claims.

Alex Watts :

Ok - but what does your policy say?

Customer:

I have spoken to some jewelers who say that it's because they have to give the company a discount. I also think that they may be trying to get the VAT back but am not sure.

Customer:

The Policy doesn't seem to be specific as to how the claims are handled

Customer:

One independant jeweler said I don't have to accept this

Alex Watts :

Well the fact they give a discount is not your problem

Alex Watts :

The £1900 is agreed and unless the policy states they will give you a discounted rate for cash then they can not

Alex Watts :

You should write and set out your complaint making reference to the policy

Alex Watts :

In particular for the insurance company to apply a reduction it must be in the terms

Alex Watts :

The company will investigate the matter

Alex Watts :

If you are not satisfied then you can complain to the Ombudsman

Alex Watts :

They are independent and can offer a free review

Alex Watts :

Their website is: www.financial-ombudsman.org.uk

Alex Watts :

Can I clarify anything for you about this today please?

Customer:

Ok Alex thanks for you help

Alex Watts :

If this answers your question could I invite you leave feedback on my service which I hope has been excellent today, if you need more information or help then please click reply.


Please remember that I am always happy to help if you have future questions, even if I am in Court I can normally respond within a few hours. For future information, please start them with ‘For Alex W’.


 


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Customer:

I will ask my insurance broker to look into the policy terms for me

Customer:

You have been a great help

Customer:

Many thanks

Alex Watts :

If this answers your question could I invite you leave feedback on my service which I hope has been excellent today, if you need more information or help then please click reply.


Please remember that I am always happy to help if you have future questions, even if I am in Court I can normally respond within a few hours. For future information, please start them with ‘For Alex W’.


 


Please bookmark my profile if you wish for future help: http://www.justanswer.co.uk/law/expert-alexwatts/

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