I managed to lose my wedding ring (of almost 10 years) on holidays recently. I am in the process of lodging a claim via my travel insurance policy for the loss. At the same time I have successfully managed to identify an exact replacement for the ring (it was an unusual design but luckily for me still 'fashionable'!).
With the value of gold having gone up since the original purchase the cost of replacement has doubled. I would expect that the value the insurance company would work off is the cost of the original, as would be the case with the normal run of the mill claims. Wondering though for items such as this which appreciate over time do they by any chance consider the current value?
With the value of gold having gone up since the original purchase the cost of replacement has doubled. I would expect that the value the insurance company would work off is the cost of the original, as would be the case with the normal run of the mill claims. Wondering though for items such as this which appreciate over time do they by any chance consider the current value?