Valuation for insurance?

[pluto_scorp]

I'm concearned... I've heard a few horror stories regarding insurance companies not paying out due to a technicality... Looking at my insurance policy :

Provide any information and assistance the insurer may reasonably need to
deal with your claim, including valuations or other proof of value for
individual items specified in your schedule. You will be responsible for paying
any costs involved in this.

What does this mean... do I need to get a valuation every year... how do i prove I own the watch.... two valuers i have called have quoted a fixed fee plus 1% charge of valuation price.....:( all seems very complicated... what do I need to do? further complicated by the fact that it is a GMT 2 2001; its been superceeded by the 116710 LN.... Help.....

[GinGinD]

I'd call my insurance company and ask them what they mean by that paragraph. We could all speculate here, but still be wrong. I'm sure your insurance company will be more than happy to clarify exactly what they require regards an appraisal, etc.

Jeannie

[johnnybazookajoe]

Its nothing to be scared of, mostly meaning you must provide receipts, documentation, and basic info when requested. Its in the policy to prevent someone from filing a claim and then being of no assistance when basic questions are asked. Insurance companies will try to do most of the work because they know exactly what needs to be done to close the claim, but if they need a piece of info, they want to ensure your cooperation, that's all.