No ownership proof leaves jewellery theft victim with smaller claim

No ownership proof leaves jewellery theft victim with smaller claim | Insurance Business

No ownership proof leaves jewellery theft victim with smaller claim

It’s hard enough to have your jewellery stolen, but it’s even more frustrating to learn that your insurer will only payout half of its value in compensation.

This was the experience of one unfortunate woman who, according to Stuff.co.nz, tried to claim a cool $56,887 from her insurer for jewellery that was stolen from her. However, the only proof that she owned the jewellery was a photograph of herself wearing them at a party. With no proof of ownership and no proof of its value, the woman was ultimately only offered $27,846 – half of the alleged value – to settle the claim.

Insurance and Financial Services Ombudsman (IFSO) Karen Stevens, whose office looked into the case, told Stuff that the onus would rest on the insured person to prove they had suffered a loss that was covered by the policy and it was up to them to provide evidence to their insurer, which is called establishing a prima facie claim.

“With valuable jewellery, an insurer will often require purchase receipts, or a recent valuation, to establish proof of ownership and the value of the loss,” Stevens told Stuff. “Because [the woman] hadn’t provided sufficient proof of ownership or value, the insurer had the discretion to decide.”