will home owners insurance cover a stolen Wedding ring?
Question by alex: will home owners insurance cover a stolen Wedding ring?
hi my name is alex,my dad died when I was 14 and when I was 15 my mom got with a real loser no job drank every day did drugs stole and by the way im 17 now and she just recently kicked him out and on his way out he manged to steal here wedding ring my dad bought here 20 years ago for $ 4000. im sure shes never going to see it again it really makes sick is there anything to do?
Also i didn’t add this but the day after he did this the 2 or 3 police were over here wanting him to fill out paper work and wanting his phone number and location I believe he has a warrant for god knows what
Best answer:
Answer by sunshine
No it will not
What do you think? Answer below!
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You can file a police report. If you have renters or homeowners insurance you can put in a claim for it but you would not get paid the full amount.
Put in the police report. See if they can get it back. Or, sue in small claims court, but then you have to have proof.
Sorry for your loss. Glad your mom finally did the right thing.
Your Mom will have to call the police and file a theft report.
Then she can report the claim to the homeowners insurance company.
The homeowners policy does provided limited coverage for theft of jewelry. However, the policy also requires a police report be filed.
One the claim gets filed – the insurance company will assign an adjuster. The adjuster will do an investigation and determine if the loss is covered under the policy.
Does mom have homeowners insurance? Does it have theft coverage? Did she file a police report and turn this guy in?
If the answer to all three of these is yes, then she’s got LIMITED coverage for this ring under her policy, as long as she wasn’t married to the guy who stole it.
Depending on what kind of home owners ins. your Mom has, she may have a shot at a claim.
Typically, stolen/lost jewelery has a cap of $ 1,500, unless a she had the ring specifically covered.
Another thing is her deductible. Lets just say the deductible is $ 1000. Heres how insurance adjusters calculate the value of the ring. They take the replacement cost ($ 4,000) minus the deprecation, giving you the ACV (actual cash value).Lets also say the ring appraised at $ 2000, but the policy will only pay out a max. of $ 1500. It looks like it will not make sense to file a claim. Im sorry for her/your loss, but it looks like it wont make sense to file a claim.
Depends on the policy, but if its a deluxe homeowner’s policy covers jewlery to a certain amount such as $ 1,000 or $ 2,000. Ask your mom if she had the ring scheduled, which means you pay an exra premium to have more specific coverage on items like a ring. Regardless, the ring is still covered, and they can generally absorb your deductible into the excess loss not covered.
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