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Thread: Insurance claim settled through LMG, any experience?

  1. #1

    Insurance claim settled through LMG, any experience?

    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......

  2. #2
    Master
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    That’s a good investment or did they value it wrong?

  3. #3
    Grand Master Sinnlover's Avatar
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    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.

  4. #4
    Quote Originally Posted by Sinnlover View Post
    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.
    When I look at the website the list of jewellers is huge, all the high street and some in Hatton garden that offer bespoke work, so I guess I can get an exact replacement made.

  5. #5
    Quote Originally Posted by bwest76 View Post
    That’s a good investment or did they value it wrong?
    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.

  6. #6
    Master
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    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.

  7. #7
    Craftsman
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    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


    Sent from my iPhone using Tapatalk

  8. #8
    Quote Originally Posted by J3w3ll3r View Post
    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


    Sent from my iPhone using Tapatalk
    Yes you read it right, £370 17 years ago, but my insurer was Halifax through AXA they have instructed LMG to replace upto the value of £5,500. Guess i’ll Have to wait and speak to them. To be honest as long as I get a ring the same as I had i’ll Be happy.

  9. #9
    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 ???

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