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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Insurance company want to replace my wedding and engagement rings

20 replies

smoothieooo · 12/04/2019 12:08

I was burgled in February - lots of small things taken, mostly jewelry. My insurance company have now sent a letter with an offer of payment for most of the items taken, with the exception of my wedding and engagement rings which they want to replace (I'm divorced and they were in a small jewelry box in my room).

The combined cost of the rings when new was around £850, so not a great fortune, but AIBU to think that they can't just be replaced with some random but similar (and possibly second hand) rings? I would have been happy with any of the other items taken being replaced, but not those. I'm currently trying to compose a reply to the insurers...

OP posts:
wowfudge · 12/04/2019 12:13

I'm divorced and I'd ask for money and go and buy myself something I liked instead as I don't wear my engagement or wedding rings (in fact I hand the wedding band converted into another piece of jewellery) but they weren't worth much secondhand.

I suspect it's a standard thing for wedding rings and it may be worth setting out the circumstances instead?

Whoops75 · 12/04/2019 12:14

Can you buy one nice ring with the money?

ATowelAndAPotato · 12/04/2019 12:15

It’s probably standard policy to offer to replace wedding and engagement rings on the basis that most people (?) would want like for like. However, as you are divorced you may be less bothered about this. Have you tried calling them to explain?

Redcrayons · 12/04/2019 12:17

Replace and then sell them?

Original poster
smoothieooo · 12/04/2019 12:19

Thanks wowfudge - I'd obviously kept them for sentimental reasons so the idea that they'd be replaced with some random rings, based on my description of them seems ludicrous.

I may ask either for the money or for a voucher for a specific jewelry company (which I've heard is sometimes the case). They may say no, but it's worth a shot!

OP posts:
Lifecraft · 12/04/2019 12:20

Lots of people claim stuff is stolen when it never existed or hadn't been stolen, in order to get more money. Replacing stolen rings with like for like rings is an anti fraud policy and very effective. It's not what fraudsters want.

They will have a right to do this written into the policy, which legally is the contract that you agreed to!

Original poster
smoothieooo · 12/04/2019 12:20

Whoops I could buy one nice ring with the money if they were offering money for the stolen rings!

OP posts:
S1naidSucks · 12/04/2019 12:23

I think they offer to replace as they have some people pretend to loss jewellery during robberies. It’s to decrease the risk of a claimant making a profit. They can probably get the jewellery for a pittance.

I do not for one minute believe that is what you’ve done, OP. I’m just wondering if that is what they normally do. BTW, I walk dogs for a living, so don’t take my word for it. 😁

Original poster
smoothieooo · 12/04/2019 12:24

Understand about the fraud aspect Lifecraft but I'd actually kept the receipt for both rings with the rest of my paperwork - which is not to say it proves that I still had them but I've never made an insurance claim previously and the total cost of the claim is less than £2k which is mostly for the damage caused by them breaking in.

OP posts:
S1naidSucks · 12/04/2019 12:24

Oops. Cross post. I’m a slow typist.

Redcrayons · 12/04/2019 12:33

If they replace with brand new ones, you might end up with something more valuable than you had before. Plus you’ve no sentimental attachment to these ones so you can sell them without any guilt.

motheroffourcats · 12/04/2019 12:59

Yes, you can ask for the cash instead of the replacements. Lots of people don't question the insurnce company's position but it can be negotiated. As they were sentimental but you don't wear them now I would look for some photos of you wearing them (if possible) and I'd email and explain you would much rather that part of the claim be settled with cash (or credit with an approved jeweller). Sorry for your burglary experience.

GladAllOver · 12/04/2019 13:05

Jewellery is always grossly overpriced at retail.
If you buy a ring in a shop for £1,000 and take it back the next day you will not get more that £250 fot it.
Insurance companies get rings at wholesale and would rather give you one that pay all that profit to a shop.
The only way round this is to get an insurance valuation on an item and insure it specifically at the price. But the premium will be much higher.

Original poster
smoothieooo · 12/04/2019 13:27

Thanks all. I've written to the company to say I don't find the offer to replace acceptable and will see what they say. It's all a bit of a secondary concern at the moment (burglary happened when I was in hospital overnight with my son) but it just seems a bit of a piss take and I'd regret it later if I didn't at least try and argue my corner!

OP posts:
Original poster
smoothieooo · 12/04/2019 13:51

Update I spoke with the insurance company, and can have a voucher either for the jewellery company they deal with in Hatton Garden, or for either Goldsmiths or Ernest Jones... to the value of £2k! I was not expecting that! Very glad I took it further now Smile

OP posts:
strawberriesandsugar · 12/04/2019 13:51

Buy a new ring that you could wear?

millymae · 12/04/2019 13:52

My friend lost her engagement ring (so not stolen) but the loss was covered under the terms of her house insurance.
What happened to her was that her insurance company allowed her to choose from a catologue of designs which their appointed jeweller bought to her house to look through. She could choose a ring up to the value of the her ring ( she still had the receipt) plus inflation, but if she had wanted to spend more she could have paid the extra herself.
Apparently the man who came bought lots of design books with him, measured her ring size and was really helpful as she wanted a ring that was exactly like the one she had lost. She could have had a completely different ring if she had wanted.
The ring arrived in a timed delivery post that was notified to her in advance so that she could arrange to be home.

Redcrayons · 12/04/2019 20:39

Fab result,OP. Presumably you'll have enough to replace all the other things you had stolen.

C0untDucku1a · 12/04/2019 20:45

Wow! Great result!

Rm2018 · 13/04/2019 17:59

They will cash settle if you request if but generally only at the cost they would have incurred by replacing through their chosen firm ie if tbey get a discount the discounted Amount is what you get

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