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Dinding a ring after you have claimed on your insurance - what would you do?

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Lottie

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Hello everyone,

This is something that has been playing on my mind for a few days so I thought I would ask for your honest opinions on it. When I first had our daughter my engagement ring didn't fit so until my fingers shrank back to normal size I wore it on a chain around my neck, one evening I realised that the chain and ring were missing and after searching the house I assumed that having been out for most of the day I had lost them while out. After waiting to see if they were handed in to the police (they weren't) I claimed on our insurance and bought a replacement ring.

This was nearly two years ago and I am packing to move house (again!)..........I have found my ring at the bottom of the wardrobe (must have been caught on my clothing and fallen out when I put something back in the wardrobe which is strange because we moved not too long after I lost it). We are not with the same insurer as before and I feel a bit pleased because they were VERY difficult with my original claim and initially tried to make me go to a chain store, rather than the independant jewellers that handmade my ring, but I also feel like a bit of a fraud having both rings, neither of which I currently wear.

Would you ring the insurer and let them know you have found the ring or just tuck it away at the back of the jewellery box to give to my daughter one day?

Thank you
 
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I think it''s considered insurance fraud if you keep it... which I believe carries a lot of fines and what not if ever discovered.

But, eh, it depends on what you want to do.

My grandpa had his rolex stolen (home worker
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) and the insurance paid out. A year later the watch turns up scuffed up and looking like cr@p at a pawn shop. It was eventually turned over to the insurance company. I think that situation really sucks, but ideally they paid you for a brand new one, and that doesn''t mean two.

I would turn it in. I would feel too guilty. But, if you don''t want to, I honestly won''t think less of you either.
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perry

Ideal_Rock
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I''d notify the insurance company.

I suspect that they will allow you to chose which one to keep.... Or allow you to repay them for the claim.

Either way, it will work out long term.

Perry
 

MissMina

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I would contact the insurer






Two wrongs don''t make a right
But three rights make a left
 

tlh

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I worked in insurance a few years back, and many people would call us to ask what to do. Often times that meant, returning the money - or mailing in the item they claimed. Keeping it constitutes insurance fraud. Many people would actually perfer to mail in the money... and keep the item... and you would be surprised at how often this happened!
 

Amber St. Clare

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As much as I may not want to, my conscience would force me to call the insurance company. I would not be able to comfortably use the stone under those circumstances.
 

radiantquest

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I agree that you should contact them, but I wonder what they would do with the ring. I mean having a ring sent to them and then I guess they would get whats it worth?

I would contact them beeccause morally I would feel that I should, but I would have never guessed that finding an item that was lost and had been replaced would constitute insurance fraud. Hmm learn something new...
 

upgrade

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The right thing to do would be to call them. Insurance fraud aside, I believe that what goes around comes around and karma is not something I want working against me~!
 

miraclesrule

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Ditto Upgrade. I am in Camp Karma.
 

LilyKat

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Call the insurance company. There really isn't a choice here, unless you want to willingly commit a serious crime (fraud).
 

Lottie

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Thank you for your comments, you are absolutely right and I phoned the insurance company - and had the most bizzare conversation! When I explained what had happened, the girl on the phone was incredulous that I had told them in the first place and asked me if I really wanted to go any further with this! I said yes and she huffed and said she would put me through to the section that deals with closed policies and accounts which took AGES. When I finally got through they were grumpy because I didn''t have the old policy number (I changed insurance quite a while ago) and he couldn''t find my details through my old address. He put me on hold again and then eventually came back to me and said that my file has probably been archived and "it will take a lot of time and effort to find, so if you really want to go ahead with this and re-open the case we need at least the first three digits of your policy number" WTF!!!!

This is a really big company, 40 mins on their premium rate number and I have been made to feel like a pest for ringing and telling them that I found my original ring!
 

LilyKat

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Lottie, I was one of the people who told you to definitely call. But now, I would say you''ve done your duty by telling them. If they''re putting up such a fight, I personally wouldn''t pursue it unless they do.

Poorly selected and trained insurance company staff have no real interest in the overall profit and loss to their company. Sad but true.
 
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^ yes, I agree. You did your best!!

Keep it....
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Girlrocks

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Agreed...you did your part by trying. If it''s too much work for them, so be it. You have a clear conscience now.
 

yssie

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Well... you did your part, they certainly can''t fault you for that! Bizarre!
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hihowareyou

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Make a little record of the dates and times that you called and the reactions you got from the staff. If it ever comes up again you have evidence that you did the right thing and that the insurance company made out that they were not interested in following up a return of any money or rings. Maybe even include a copy of the phone bill that highlights the call, just in case :)
 

tlh

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Date: 2/15/2010 7:06:48 PM
Author: radiantquest
I agree that you should contact them, but I wonder what they would do with the ring. I mean having a ring sent to them and then I guess they would get whats it worth?

I would contact them beeccause morally I would feel that I should, but I would have never guessed that finding an item that was lost and had been replaced would constitute insurance fraud. Hmm learn something new...
What happens, is that most insurance companies have a department that deals with this. They also deal with it in the event of a fire, etc. Somethings can be "salvaged" and "wholesaled" and that is what they do. IN this instance they would burn down the setting til it is metal. Sell the metal for what it is worth on the market, and then they would salvage the diamond wholesale.

Lottie -I''m not surpised that with an old - archived policy that some employees of the company do not always do the right thing. As this is an "OLD" claim. They don''t get credit for the numbers, the original adjuster would... and honestly, any company is only as good as their worst employee... in this case the adjusters did the wrong thing... but you did the right thing calling - and I''d wear the jewelry without remorse or regret.
 

Lottie

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Thank you all very much, I told my husband who agreed with you and also suggested that maybe they simply are not very interested in claims under a certain price point. So am keeping both rings but will tuck the original away and give it to my two year old daughter one day when she is old enough.
 

doodle

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Just make sure you cover your butt and keep some proof that you tried to handle the situation through the proper channels. Considering how goofy they''ve been so far, I wouldn''t trust them to not have the whole thing come back to haunt you later, you know? I wonder if there''s any way you could get something in writing saying that you reported the incident but they declined to pursue any further action. Anyway, woohoo on having an extra piece of jewelry now!
 

Amber St. Clare

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Well, you did the right thing and they couldn''t be bothered--case closed!!!!!
 
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