Insurance - hELP

[Mistaboo2008]

Hi

can someone please explain to me the valuations ? I purchased a diamond ring for £9k and the valuation is for £22k.
what price should I insure it at ? and why would the valuation be higher than the price paid ?

also can anyone recommend any good insurance companies in the uk for this ? as my current household limit per item is £10k

thanks

 

[rubybeth]

What you've gotten is what a lot of people get when they get an appraisal: an overinflated value that's more "feel good" than helpful for insurance purposes. I would see if the appraiser would be willing to adjust the replacement value back down to reality (which would maybe be under or right at your household limit?). Unless you got the original piece second-hand on a good bargain, it's likely NOT worth the high priced valuation.

I'm in the US so don't know any UK companies to suggest. Good luck!