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Thread: Lost Watch - Insurance Claims/Experience?

  1. #1

    Lost Watch - Insurance Claims/Experience?

    Evening all,

    Its been a while since last my last post (sounds like a confession) since I sold the JLC MC Geographic earlier this year my desperate desire to buy and sell and seek out 'the one' has deserted me. It may be a good thing but sadly my hand is being forced.

    I've just returned from a holiday in the UK where I took my two most wearable everyday watches, a Rolex GMT 16710 and a Rolex Turnograph. As the GMT is such a good watch for all seasons the TOG hardly got a look in.

    The thing is....since returning from holiday late on Thursday I now can't find the TOG anywhere? :( Been through everything, bags, coats, car, wardrobes, shoes, drawers, golf bags and then all again. 3/4 days on I'm now starting to consider it lost.

    I'm pretty well insured and in theory I am covered for such items away from the home but I just wanted to ask fellow members of their experiences with insurance companies following a claim for a lost watch? I've got the box and some paperwork but not the Rolex Guarantee card. May have some photos but suspect I have photographed the TOG the least of all my watches.

    How well do firms deal with these claims? How much proof can you offer for a lost item?

    Appreciate any views/comments.

  2. #2

    Re: Lost Watch - Insurance Claims/Experience?

    Most Companies I dealt with were fine on items like this, you've pretty much got all the proof of ownership there.

    Some Companies are better at dealing with claims than others, which Company are you insured through?

    Malc

  3. #3

    Re: Lost Watch - Insurance Claims/Experience?

    It really does depend on the insurer and your policy.
    It's just a matter of time...

  4. #4

    Re: Lost Watch - Insurance Claims/Experience?

    Sadly it was Hiscox until last month who I'm sure would have been great. After 5 years with them I've just changed to John Lewis, ironically because Hiscox were no longer VFM for those high value items!! JL were about 50 less a month like for like.

  5. #5

    Re: Lost Watch - Insurance Claims/Experience?

    Quote Originally Posted by smokey99
    Sadly it was Hiscox until last month who I'm sure would have been great. After 5 years with them I've just changed to John Lewis, ironically because Hiscox were no longer VFM for those high value items!! JL were about 50 less a month like for like.
    JL will just be re-badging another Insurer's product, should say in the wording who actually underwrites the policy.

    Malc

  6. #6

    Re: Lost Watch - Insurance Claims/Experience?

    Hi, I lost my Omega 2254 last year while commuting into work on a Bicycle(Don't Ask), I was Insured by Tesco's and had cover for valuable's away from home.
    As i work for an Insurance company i knew how dodgy the claim sounded, but it was genuine. You don't need proof of purchase, but you do need proof of ownership, this would count as service receipts or boxes, even forum correspondance about the item.

    I was advised by a collegue that i would be told i would have a "Interview" with a claims rep over the phone, this is when they use cognetive question techniques, and are sometimes using voice stress analysis softw are to check for fraud. The interview was fine and asked things like how the bracelet closed and things, randomn i know!..

    I paid 1100 for the watch and since i bought it Omega started their race with rolex and replacement value was 1900, without quibble they sent me a card for 1900 for Ernest Jones.

    All insurance companies do credit checks on claimants to see if they have applied for loans etc, as an indicator to fraud likelyhood.

    Tesco's were great TBH........
    Good Luck

    Juice

  7. #7

    Re: Lost Watch - Insurance Claims/Experience?

    Thanks Juice, that's useful to hear. I guess I'm just concerned due to the timing. Hopefully John Lewis' customer service will rub off on the proceedings.

  8. #8

    Re: Lost Watch - Insurance Claims/Experience?

    Axa underwrite the John Lewis home policy

  9. #9
    Craftsman Kris's Avatar
    Join Date
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    470

    Re: Lost Watch - Insurance Claims/Experience?

    As has been said , so long as you have realistic proof of ownership, you have nothing to worry about. Has the loss been reported to the police ? If not, then that should be your first step.

  10. #10

    Re: Lost Watch - Insurance Claims/Experience?

    I had to submit a claim through AXA in December for a Goyard wallet which I lost/was stolen. I can't fault them at all, if you have all of your information ready before your claim handler calls then it should proceed rather straight forward. I had found my receipts, phoned the shop and found out how much the price had gone up to etc. They will ask the circumstances of the loss and will ask you to go through it a second time, then where and when you got it, a description, cost etc. They sent me a cheque for the new replacement cost of the wallet and the cash that was in it when it went missing and I didn't even have to submit a copy of the receipt or anything to prove I actually owned it in the first place. I guess I gave them enough detail when I was going through the claim process.

  11. #11
    Craftsman Lauting's Avatar
    Join Date
    Aug 2011
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    South London
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    466

    Re: Lost Watch - Insurance Claims/Experience?

    Useful post, as one of my watches was a gift so obviously i don't have a receipt but have photos and the boxes but was thinking if i had it stolen/lost how would i proved i owned it.

    I might ring my insurance company to give them the serial numbers of the watches, is this standard practice amongst the watch community.... :?:

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