What is the point of contents insurance?

[Crabtree]

Unfortunately had a burglary on Friday.

Only!!!! gold jewellery taken and window and frame broken on entry.

Most of the gold jewellery is quite old (50 or so years), and was passed down to my wife from her mother and grand-mother.

The insurance company say they are unable to cover the gold jewellery as there are no receipts. That begs a question, who has receipts over 50 years old? Also if other stuff, like pots and pans, books, dvds etc., were stolen, then they would also not be covered without receipts. Does anyone keep those receipts?

Sure we have receipts for more recent items, like TV, computers, phones etc., but they were not even touched, let alone taken!

So, what is the point of this type of insurance?

[Ally]

I can't help but I'm really sorry to hear you've suffered a burglary. Fingers crossed your stuff turns up.

[exile]

Generally they are looking for proof of ownership or even existence and if you have photographs (preferably recent ones) of the items they may change their minds.

[Le Démerdeur]

To relieve people of their money at no risk to the insurers.

I'm sorry as well, at a time of loss you really dont want to have even more merde to deal with, being uninsured can be an advantage.

[Lemorvan]

Sorry to hear about the incident Crabtree, I don’t think I’ve got a receipt for many of our items of any value. For me it’s not the financial loss it’s the sentimental attachment to such items that causes the grief. As a matter of interest I wonder if it states in the small print of any insurance providers policy that all receipts are required?

[Aardvark]

Knowing how insurers always look for ways to avoid paying out, I only buy insurance where it is a legal necessity. Everything else is a waste of money. Those who successfully make claims would have been better off putting the premium money in a savings account and paying for any loss themselves. Then have a holiday in the West Indies on the difference.

[alittlebitmorefrench]

You need to have invoices for everything.

In terms of valuable antique jewellery, then you need a safe deposit box at a bank.

Sorry to hear what happened.

P.S This is a wake up call everyone reading this thread.

[mysty]

A bit late for you crabtree but an insurances company will accept photographs and valuations of any items that you no longer have recipts for.
Not a nice experience having a house burgled.

[F Flinstone]

As a person that lost everything in a house fire, we got out just in the clothes we had on, so forty years worth of married life up in smoke. Our insurance were very good, we had to itemize every item and show receipts, of course they were all burnt, the only things we could prove are items bought on line. We lost valuable items and had to put a estimated value on them, as it was such a massive and stressful time we just accepted their offer, yes we have lost out financially, but we are alive, so there is a need to have good insurance, its cost the insurance company upwards of four hundred thousand, so for ten years premiums perhaps 3/4 thousand, it was worth having.