That’s a good investment or did they value it wrong?
A few weeks ago I lost my wedding ring, the insurance company have just agreed to pay out through a company called LMG to the value of £5,500. I only just found out and am now sitting guessing how it works rather than wait till the morning and calling them.
A quick google of LMG seems to show I will get a voucher to spend at one of their agreed stores. Or do I select a store, choose a ring and they then invoice LMG.
I’ll be honest I’m struggling to find a ring that even comes close to that value, especially knowing that the original ring only cost £370 17 years ago.
Anyone else had experience of LMG and how they work?
I know I can wait and call in the morning but you know what it’s like......
That’s a good investment or did they value it wrong?
I would be intrested to know if you can refuse the offer of a voucher and ask for the cash?
I am not sure I would be happy with a voucher that dictates where I can shop to replace an item, especially one that might have sentimental value.
I am presuming this is noted in the small print of the policy? If so I think I will have a check as I am due to renew soon.
I was a little surprised, when I first lost th earring I wasn’t going to claim, but when I started to see what rings cost these days I thought I’d ask the question. I sent them proof I had tried to find the ring and pictures showing the ring, thanks to my wife’s OCD I even had the original receipt showing 18k yellow and white gold band at £370.00 bought Oct 2000.
From what I can tell to get one made the same will cost around £2500 so to give a limit of over double that does seem generous.
When we were burgled last year we had the option of vouchers or cash. You would get the exact amount in vouchers with a reduction in the amount given if you take cash. Tbh with jewellery I think cash is better as you can then go and choose what you want rather than in effect being limited to whoever the voucher is for.
You will struggle to get the cash out of the LMG and if you do get a cash offer they will try and knock you for a massive percentage
Also did I read that right, you paid £370 17 years ago and they have offered you £5500?
If so I will say that’s most un LMG like, I have dealt with them since their inception
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Splendid experience with them
They sorted my B-1
No issues
Plenty updates
Doubt you’ll get cash but you could try selling the card ???