Insurance

Discussion in 'General Chat' started by jimbobaggins, Sep 22, 2007.

  1. jimbobaggins

    jimbobaggins
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    My insurance company have paid out on some items I had stolen and they have sent me a plastic card with credit on it to buy goods to the value from a number of jewellers.

    The question I have is - knowing that most jewellers have a hefty profit margin on all jewellery, it is fairly easy to negotiate a lower price on their goods. If I let on that its an insurance replacement and I have this card, I have a feeling that it may be more difficult to negotiate, as when I pay, I need to get the jeweller to ring the Insurer to put it through. I am not sure if that will cut my negotiating power as they will already have a deal with the Insurer (there is a shortlist of Jewellers I have to go to)

    Anyone any experience of this?
     
  2. Steven

    Steven
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    I thought they can't limit the retailers you can go to, but then I may be wrong on that one
     
  3. Mr_Wistles

    Mr_Wistles
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    I would say that the jewellers on their list have nothing similar and you want a cash settlement.
     
  4. gibbsy

    gibbsy
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    My wife has a number of limited edition Welsh Gold jewellery which have now sold out. So I would want my money back. It's often difficult to get a like for like replacement.
     
  5. themilkman23

    themilkman23
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    Having used to work in insurance myself, I know this is something they can unfortunately get away with. It will be written in your insurance policy booklet somewhere at the front that they have the right to use they're own supplier for replacement or offer a cash settlement.

    If you do decide to go down the cash settlement route they will probably deduct a percentage as they would've obviously been saving money by using this certain supplier. The company I used to work for had a 33% discount so would deduct that from any cash payment. The only way you can get the most out of them is if you say that you had Welsh Gold and cannot find a like for like replacement.

    If thats doesn't work then just make a complaint, they will soon cough up then!

    Hope this helps, Mrs Milkman :)
     

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