If your jewellery is antique, an ‘open market’ value can be provided.
It is a minefield sifting through insurance policies but we recommend that you confirm with your insurers that cash settlements will be considered where goods are irreplaceable. We also recommend that you insure for all risks and losses both in and out of the home.
You have the right to insist on your choice of jeweller. Check your policy before you sign and do not be pressured into accepting vouchers or catalogues provided by third parties.
In the sad event of a death in the family, you may be asked for a probate valuation. This is to ascertain the value of the jewellery for possible liabilities against death duties.
Probate valuations are much lower assessments than insurance purposes and are based upon the goods worth at the time of the deceased’s passing.
If you are claiming accidental damage or replacement for your jewellery, you must obtain estimates for the work to be carried out. You may be asked for more than one. Many insurance companies use a company called LMG, but you have no legal obligation to use them as you indemnified your goods with the insurer.
Hallmark are a reputable jeweller and we can help make your claim and do any repairs in-house.