Lost engagement ring/ home insurance

jordan.kellie

Hi everyone
Can anyone help me
I have lost my engagement ring in my own home, i have searched absolutely everywhere for the last few days for it but cant find it.
This cost over €4000 and i decided to include it in my house insurance in May 2009
Can anyone tell me can i claim from my home insurance for the value of my ring? or is it just for fire/theft in the home
thanks everyone x

IrishTonyO

It depends on what time of policy you have, some policies are only for fire and theft etc. Others include personal items in or outside the home. This is normally an extra option on policies. Look up your policy and it will tell you what is covered.

jordan.kellie

i have my policy here in front of me but it doesnt exactly say ''if you loose something at home your covered''
this is what is says under 1 (a) buildings

(b) contents

2 unspecified extra cover
for jewellery,
personal belongings,
bicycles and money

extra cover on individual items total €4300

IrishTonyO

From that it looks like you are covered up to €4,300, but ring them to make sure.

jordan.kellie

thanks for the replies, i might look for another few days then ring them
OMG if they say im not covered for lost in the home i'll go mad!

dudara

Moved to Banking & Insurance & Pensions

dudara

AARRRGH

That's pretty lucky that you added the ring to your insurance just before you lost it.

From a bit of googling it seems a lot of insurers don't cover this type of thing as it is commonly used to defraud the insurer.

Jet Black

I'm almost sure your not covered. As said this would be way open to fraud. Anyone could insure a valuable item then 'loose' it.

Good luck. Hope you find it.

jordan.kellie

hi
thanks for the reply, ya i know what ur saying about fraud, my fiance said the same thing to me, how are they to know ur not lying!
I know this but i am genuine and it is genuinely lost, i'd rather nothing more than just to have my ring back and not have to ring the insurance people at all

Fighting Irish

did you lose it inside or outside the house? back garden?

IrishTonyO

Jet Black wrote: »

I'm almost sure your not covered. As said this would be way open to fraud. Anyone could insure a valuable item then 'loose' it.

Good luck. Hope you find it.

I am covered for things like this on my policy, it is an extra you pay for.

Riskymove

Jet Black wrote: »

I'm almost sure your not covered. As said this would be way open to fraud. Anyone could insure a valuable item then 'loose' it.

then what is the point of insurance?....couldn't "anything" be lost or stolen or burnt?

if you have specified the ring as a particular item then you are insured and you are paying an extra premium to do so!

Jet Black

then what is the point of insurance?

For the stolen and burnt part. You have proof through a gardai report.

I suppose there is no harm in trying to claim for it.

IrishTonyO

You can have an all risks policy add on or a specified items addon. All Risks covers you up to certain amount for unnamed items, specified items means you have listed the actual item and its value. Both are extras on a normal insurance policy and either one of these will cover you, however if it is all risk, the amount will depend on the amount of the all risk policy you have.

jordan.kellie

hiya
i lost it inside the home
my policy says '' unspecified item €xxxx (full value of item when purchased)
and yet on another page it says ''item- 18ct gold engagment ring -€xxxx

Should this state 'specified' and not 'unspecified' as the item is named and full price is stated??

IrishTonyO

jordan.kellie wrote: »

hiya
i lost it inside the home
my policy says '' unspecified item €xxxx (full value of item when purchased)
and yet on another page it says ''item- 18ct gold engagment ring -€xxxx

Should this state 'specified' and not 'unspecified' as the item is named and full price is stated??

Looks like you have all risks for unspecified and also the ring listed, so you are doubly covered.

goosie2005

Exact same thing happened to me last week and was wondering the same! was just about to put up the same post, but held off for a few days...and sure enough turned up in the car!.. with the cold weather my fingers tend to shrink! check it didn't fall off overnight in bed too...just thought i'd offer some hope!

jordan.kellie

:D OMG!!!:D:D
I found my ring! It was under the foot of my bed!
I am soo delighted and relieved!
Im still gonna ring up the insurance crowd though just to see what exactly i am covered for in regards to my personal belongings
Thanks to all of you for your advice
Happy days

IrishTonyO

good to hear

oldyouth

Jet Black wrote: »

I'm almost sure your not covered. As said this would be way open to fraud. Anyone could insure a valuable item then 'loose' it.

Good luck. Hope you find it.

It's the principle of utmost good faith and the cornerstone of insurance. Of course there are fraudsters out there but the majority of claimants are genuine.
If you have specified this item for 'all risks' then it is covered. Naturally you will expect insurers to ask you for proof of purchase to show the item did exist and how much you paid for it.
Making a false claim is now a criminal offence and it is cutting down on fraud but it is making it better for genuine insured losses

Toots

Delighted to hear the ring turned up! I can only imagine how you were feeling. Definitely call your insurance and double check what is covered so you'll at least have peace of mind just in case it gets lost again.

Arazi1

Did they ever pay out on the ring lost in the house? In a similar situation!!!