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Insurance co asking for old receipts
- Thread starter winchman
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- Ben
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Depends entirely on the terms of your insurance contract.
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Did you buy it online? Maybe you can match an email to a bank statement, or a credit card bill?
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I tend/try to keep the gear receipts with the insurance paperwork.
Who are you insured with?
Who are you insured with?
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Hmmm.! Makes me wonder if with every new camera we should take a picture of the receipt and a newspaper as reference points???
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- Red- - - - - - - - - - - - - - - - - -Snappa
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If is a corporate insurance through work the company accounts team will be able to find proof or purchase. I'm confused though as you say "From memory I saved up and paid cash at a local store"
My employer has an insurance policy for when we work abroad, as a perk we can get the whole family on it for buttons for our own personal use so no need for travel insurance, its a high level of cover but not new for old.
Good point I now archive them on the computer due to issues in the past just this one was so long ago
StephenM
I know a Blithering Idiot
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Speaking as a get-out-of-everything insurance type (oddly enough I worked for a large insurance brokers back in the 1970
) I wouldn't accept this, and would prove it by producing an old newspaper (say 10-15 years old - and we have some in the house!) and a photograph of a Sony a7rii taken with aforesaid paper to show that we'd had it for 15 years...It is possible to buy old newspapers from some nostalgia shops, so I think that the idea is a non starter. If the rules call for a receipt, then a receipt is probably needed. I had a struggle 40 years ago to get a cooker repaired under warranty even with the engineer stating that the serial number meant it had only been made 2 months before.
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My insurer asks for only the serial numbers stamped on the item... Did you provide these to the insurer when you took out the policy? Seems a bit harsh if you have to have supplied serial numbers in advance and produce receipts upon a claim: what happens if you'd bought the item used on TP classifieds?
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That's what I do as well, as I'd be putting a returned item back in its box it makes sense to keep the receipt etc in there also. If it's a big box I fiat pack it and tape the receipt to it.
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Cutting the amount!. What amount and how was it calculated? 25% of what. They cannot give a loss value then cut the amount simply because you are unable to provide a reciept.
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If the insurance company gave the "based on replacement being £359" and have then said because there is no reciept so 25% reduction. I would not accept that.
The reason I would not accept that is that I would want a good reason for why a receipt has anything to do with the value of the item being reduced (they valued it at £359).
The insurance company cannot just say "ah no reciept so knock 25% off" there needs to be a lawful reason for not indemnyfying you for the value of the camera and not being able to produce a reciept is not one of them.
If they valued the loss as £359.Then that is what you should recieve as indemnity. Edit: less the other agreed deductions mentioned.
If the insurance are saying no reciept therefore you have no evidence of owning the item then why pay out.
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Is the insurance premium based on the replacement value or is it revalued each year to take into account depreciation? Bit of a rhetoric question really as insurance companies are notorious for this, especially with car insurance. Makes the insured value of an item completely irrelevant unless it's a policy which will actually pay the insured value.
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Sadly it's nothing to do with being fair. It's whatever was in your terms and conditions when you signed up for it. For buttons I wouldn't expect a great deal of cover realistically....
Chaz Photos
Jack Elam
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This is a common get out that they try to use.
I had the same happen to me years ago but after sorting thing out with them I got full payment. I sent the manual to show I had the camera, ( mine had been stolen) one thing is when did you start your insurance, also it's what it cost now that matters, show how much one is to replace it with.
had same over a car they offered silly money but I proved that you could not get a replacement for the money they offered and I got what I should, to buy the same car.
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When I claimed on my insurance for a 70-200F2.8LISii that I had bought on TP they were happy to see a printout of the thread and messages exchange showing name & delivery address the seller was posting to. Plus I had moved in between so it was my old address. I paid something like £1200 second hand but they purchased a brand new one from WEX for me (together with the camera it was attach to when it went for a swim and disappeared to the bottom of the sea)
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Sounds like a good company, may I ask who it was please?
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Back in the days of film I had a load of stuff stolen.
My insurers offered "new for old" cover and I had all the receipts.
One item was a 500mm Mirror lens that cost £220 new, but when I showed the insurance man the receipt he said "Sorry, it's too old - we only do New for Old on items less than six years old. We work on the basis of replacement cost on older items."
I then produced a (then current) advertisment for the identical item second-hand for over £400.
Suddenly the insurance guy agreed they would pay New for Old on the original purchase price.
My insurers offered "new for old" cover and I had all the receipts.
One item was a 500mm Mirror lens that cost £220 new, but when I showed the insurance man the receipt he said "Sorry, it's too old - we only do New for Old on items less than six years old. We work on the basis of replacement cost on older items."
I then produced a (then current) advertisment for the identical item second-hand for over £400.
Suddenly the insurance guy agreed they would pay New for Old on the original purchase price.
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Aegis. On a Sunday my 1DX and 70-200 went for a swim after I was hit on the back of the head by a gull. I phoned the insurance broker on Monday morning, at about 10:30. They said the insurance company would call me back within 2 days.
At about noon they called and took the details, asking for receipts to be emailed in. I explained about buying the lens on TP, 2nd hand, and they just asked for a copy of the sale thread and messages.
I emailed everything to them that evening, including amazon printout for the cf cards (2@16gb) etc.
They called me back saying the 1DX was no longer available and did I want a 1DX mark ii instead.
Thursday morning I received a parcel from WEX with the new body, lens, filter etc and a 64GB cf card (better spec card than I had.
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Thank you, that's really good service.
Have just been googling, and wondered, did you mean "Ageas" by any chance? They seem to be a big insurance company.
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Speaking generally, why does everyone not get a receipt for every item they buy - new or secondhand?
It sounds like you had a very good experience, Ploddles. It's the sort of thing I might query if i was an insurance assessor. Hit on the back of a head by a gull? Did it think your 1dx was a bag of chips?
Mind you I did set fire to my glasses (spectacles) last year.....they must get all sorts of claims.
It sounds like you had a very good experience, Ploddles. It's the sort of thing I might query if i was an insurance assessor. Hit on the back of a head by a gull? Did it think your 1dx was a bag of chips?
Mind you I did set fire to my glasses (spectacles) last year.....they must get all sorts of claims.
I once worked on help line for Dixon’s stores including dealing with “warranty” claims. Had a guy once wanting to know if his printer was covered on the warranty for accidental damage if it had fallen out his window. (And no it wasn’t some kind of IT support joke like “closing all the windows and then try clicking again!”)
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I know this will not help now but it might be of use for others and which I posted back in March.
I spent twenty years in the insurance industry so maybe some of the following will help:
1. declare all items you want "covered."
2. keep a record of any serial numbers and the kit they refer to.
3. a bit obvious but take a picture of the kit, particularly the expensive stuff such as cameras and flashes.
4. keep purchase receipts - photograph them even.
5. insure for replacement cost and not what you paid.
6. review cover every twelve months in order to take account of new purchases or revised replacement values.
7. report any loss / theft to the Police immediately and request a crime number - the insurance company will want this.
8. report any loss / breakage immediately to your insurer.
9. if you are unsure about any aspect of your policy / cover e.g going abroad, then speak with the insurer.
10. NEVER assume. The insurance company won't and never should you.
11. if the sums involved are substantial I would advise a stand alone policy and not tagging onto a parent policy.
12. check the policy cover and understand what is covered and what is not - if in doubt ASK.
I hope this is not stating the obvious and is of some use.
As an aside we bought some new work-tops in IKEA at the weekend and the sales assistance pointed out that they were guaranteed for 25 years (I'll be dead before the guarantee expires) and as he correctly pointed out the receipts would either be lost or faded within that period. His advice - take a picture of them.
Regarding the depreciation charge, if that is in the insurance company's T's & C's then you are stuck with it. However, the 25% deduction for no receipt is up for discussion. If the company agreed an initial valuation of £359 they can hardly now state that the value is £359 less 25% - did they ask to see the receipt when you took out the insurance? If not then do not accept this.
Furthermore, it is nearly always a good rule of thumb, particularly where you are not happy with an initial offer to refuse and provide reasons why. From personal experience in 100% of cases where I settled claims the company always increased a subsequent offer.
Good luck.
I spent twenty years in the insurance industry so maybe some of the following will help:
1. declare all items you want "covered."
2. keep a record of any serial numbers and the kit they refer to.
3. a bit obvious but take a picture of the kit, particularly the expensive stuff such as cameras and flashes.
4. keep purchase receipts - photograph them even.
5. insure for replacement cost and not what you paid.
6. review cover every twelve months in order to take account of new purchases or revised replacement values.
7. report any loss / theft to the Police immediately and request a crime number - the insurance company will want this.
8. report any loss / breakage immediately to your insurer.
9. if you are unsure about any aspect of your policy / cover e.g going abroad, then speak with the insurer.
10. NEVER assume. The insurance company won't and never should you.
11. if the sums involved are substantial I would advise a stand alone policy and not tagging onto a parent policy.
12. check the policy cover and understand what is covered and what is not - if in doubt ASK.
I hope this is not stating the obvious and is of some use.
As an aside we bought some new work-tops in IKEA at the weekend and the sales assistance pointed out that they were guaranteed for 25 years (I'll be dead before the guarantee expires) and as he correctly pointed out the receipts would either be lost or faded within that period. His advice - take a picture of them.
Regarding the depreciation charge, if that is in the insurance company's T's & C's then you are stuck with it. However, the 25% deduction for no receipt is up for discussion. If the company agreed an initial valuation of £359 they can hardly now state that the value is £359 less 25% - did they ask to see the receipt when you took out the insurance? If not then do not accept this.
Furthermore, it is nearly always a good rule of thumb, particularly where you are not happy with an initial offer to refuse and provide reasons why. From personal experience in 100% of cases where I settled claims the company always increased a subsequent offer.
Good luck.
I don't *think* I saw this as a suggestion (and it may be irrelevant anyway), but did you register the warranty when you bought the camera? Could you use that in some way to show that it was purchased when you said you did? (quite often you have to add the shop you purchased things as part of the warranty registration process).