Disappointing cover for stolen watch
Specify items of value on your policy, get valuations.
Specify items of value on your policy, get valuations.
After Daisy’s* watch was stolen, she went to a jeweller, who valued the watch based on an equivalent model and found its replacement value was $6,375. However, when Daisy had set up her contents insurance policy, she didn’t have her watch valued and its estimated value was recorded as $2,900 (under the $3,000 limit for non-specified items).
The insurer paid Daisy the policy limit for non-specified items: $3,000
Complaint not upheld.
*Names have been changed.