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Making a claim for a Specified Risk advice needed

  • 25-10-2017 1:05am
    #1
    ctlsleh
    Registered Users Posts: 783 ✭✭✭


    Just lost my luxury watch while abroad, completely gutted. I had it insured as a specified risk, but not for the full replacement amount. So I’m looking for any advice on how to manage this and what to expect from the insurer when I contact them tomorrow.

    I lost it in mainland Europe, I have a police report.......looking through my policy doc, I see the following, anyone know what this means....?

    From policy.......The cover provided by this section applies to insured property in the Republic of Ireland, Northern Ireland, Great Britain, the Channel Islands and the Isle of Man. Cover is limited to a 60 days in any one Period of Insurance while outside of these geographical limits.

    Appreciate and guidance and advice on how to work with the insurance company on this and what to avoid......


Comments

  • #2
    Sue Pa Key Pa
    Closed Accounts Posts: 2,060 ✭✭✭Sue Pa Key Pa


    Should be straight forward if you have the police report. The maximum settlement will be the sum insured less the excess for that section. It would help if you have a proof of purchase or a photo of you wearing the item

    Since the recession, there has been a lot of fraud in this area, so many insurers now exercise their rights to replace the item rather than offer a cash settlement


  • #3
    joeguevara
    Registered Users, Registered Users 2 Posts: 8,088 ✭✭✭joeguevara


    ctlsleh wrote: »
    Just lost my luxury watch while abroad, completely gutted. I had it insured as a specified risk, but not for the full replacement amount. So I’m looking for any advice on how to manage this and what to expect from the insurer when I contact them tomorrow.

    I lost it in mainland Europe, I have a police report.......looking through my policy doc, I see the following, anyone know what this means....?

    From policy.......The cover provided by this section applies to insured property in the Republic of Ireland, Northern Ireland, Great Britain, the Channel Islands and the Isle of Man. Cover is limited to a 60 days in any one Period of Insurance while outside of these geographical limits.

    Appreciate and guidance and advice on how to work with the insurance company on this and what to avoid......

    It means its covered for the period of insurance in Republic of Ireland and GBR and no more than 60 days at any one time outside of these places. As long as you were not in mainland Europe for more than 60 days until you lost your watch, you will be covered by insurance.


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