Horror Story of the Month.

We have a professional Client who has been with us for some years and recently bought a £7,000 watch.

That all sounds pretty good BUT he didn’t add it to his contents policy in place by informing us so we would relay the addition to the Insurance company and they may either keep the premium the same or add a bit on to cover the extra risk.

As you know a contents policy will usually ask what value of contents you would be taking out of the home on a regular basis.  Over and above clothes and shoes it might be rings, a bracelet, a watch and necklace or chain with adornments.

That list needs to be declared fully at the policy’s commencement where valuable items are concerned  to ensure protection when being worn outside the home and you guessed it……. he went to the driving range, put his watch down, and never saw it again. We never knew about it until he called and the poor guy’s £7k watch is now a very expensive memory.

All I can say is that it’s a salutary reminder by not making that phone call to add your new gift or purchase to the policy us it really can be an expensive error.