Disappointing cover for stolen watch

Specify items of value on your policy, get valuations.

Disappointing cover for stolen watch

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.

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