Theft / Valuation / Insurance

My house has been broken into and amongst other things mine and my wifes watches have gone.

Both items are listen on our insurance and mine is fine as it was only purchased in 2017 but my wife datejust I bought from watchfinder in October 2016.

The wifes watch was a datejust and I paid 2200 for it but ive put down on my insurance the replacement cost of a datejust now 28mm at 4800.

Will the insurance require a valuation certificate as ive never had one done as I only purchased the watch in 2016 but it was 10 years old then ?

Sorry to hear that, its everyone's worst nightmare. I was under the impression some policies require valuation certificates and others don't so its worth going back to your insurance provider to find out the details. My current policy doesn't require these, but previous policy did.

Yes it s a complete headache, my car was taken too.

Ive checked my insurance policy this morning but cant see anything regarding a valuation but I know for definite my last policy had that in.

ah well ill have to ring up and see how I go.

Give them a call and see what their requirements are.

However, if your items are already specified with a value, I would expect a valuation would have been requested at that point if required. I'd be surprised if they asked for one now based on what you've said.

Household/ valuables insurance is usually on s new for old basis, so they should replace with the new equivalent model from an ad, unless the value you have covered is less, in which case they would only pay out the value covered.

I've had similar experiences a few years ago now so I can very much sympathise. Awful feeling when some robbing scum bag has been in your house. I and my family were asleep at the time.

My insurance sorted everything satisfactorily although it was a bit of a process. Expect to be asked for boxes/ papers etc and general proof of ownership. Photos of you wearing the watch may help too etc.

Good luck with everything. Hope you get sorted.

Ivan

Every insurance company has it's own set of rules on watch valuation.

Up until this year, I agreed a value for every single watch. So if the watch was stolen, the payout would be instant and at the pre agreed amount. No negotiation would be necessary.

This year they have changed the rules. I now need a valuation every two years from a "reputable" watch dealer, Rolex ADs are preferred.

In the event of claim being made without a valuation, the insurance company will consult a specialist employed by Mapping and Webb for a current valuation.

Hope that helps.

Mick

As others have said all insurance policies are different. My insurance has always requested a valuation at the time I take out insurance.