SANTANDER INSURANCE CLAIM

[goldenbolls]

hi,
my x had a break in, she had a lot of gold and silver stolen, valued roughly around 16000 gbp. loss adjusters have told her she is only entitled to £1000 max per item, some or most of these items she got stolen were way above £1000 each, i think she had around 7 bracelets/necklaces above the £1000 figure.

she is from thailand and does not know the way things work in uk but collects her thai gold as collateral for later years unlike us in west we put money into bank accounts etc. anyway she told me that when she took insurance out she stated to santander that she did have a very large collection of thai gold. they have now seemed to do a u turn and say that each item is only valued £1000 max independently which i think is wrong. does she have to take the 1st offer ? offer is coming out today. do loss adjusters give a paltry 1st offer hoping you will take it and be happy with it ? is it better to appeal ? considering the amount and value she has lost she wont even be happy with £10.000 but i think because she has a limit of £10-000 she wont even get anywhere near this. can anyone out there shed any light on this please so i can advise her of what to do, states on policy new for old ? whatever that means . much appreciated . thankyou

[factor-fiction]

The proposal form and the policy documents will I am sure say that the insurance is limited to £1000 per item.
For such valuable items she would need special cover

[chelle7272]

has she checked her policy? it is quite usual for there to be an upper limit for certain items, and anything above it would have to be specified.
new for old means they do not deduct for depreciation, i.e., a five year old Tv would be replaced with new

[redcrx]

They will offer valuation figure (if she had these valued or had any photos etc of them they will use for details and may increase offer upon proof of value) up to the maximum price per item. They would have asked her about any items over the £1000 limit at time she called for insurance quote, plus it would have been on documents.

[bednobs]

i have just had my renewal documents for santander insurance today
it gives 10 000 for "valuables in the home" and then says "valuables which exceed £1000 must be noted on the policy individually"

[gingejbee]

Just about any insurance will have a limit above which items have to be individually itemised and their value stated - and a higher premium will be charged. If she didn't do this - then all she will get is the stated limit per item.

[factor-fiction]

The insurers are also likely to check the sum insured on her policy and compare it with the estimated value of her actual contents including all this jewellery. If they feel she was not adequately insured they may scale down any payouts. Everyone needs to be clear about what they are paying for.

[JackDanielsU]

First of all - if she stated to them at start of policy she had a large amount of gold - they should have asked how much - and then that amount would have been covered on the policy.

Were there are VSI - valuables sum insured - noted on her policy?

if she had £16,000 of gold in the house - there would have been all sorts of T&C on the policy, covering security etc

Unfort her nationality is no excuse, but when the policy was set up by a broker?? - it should have been made clear to her what was covered and to what extent