- Apr 28, 2015
Hello, I live in a Villa inside an Urbanization and I have a Home Insurance policy contracted with AXA. The other day I suffered a robbery at my house and the jewelry kept in the safe were taken.
I have contracted the limit for jewelry up to 9,000 euros and the insurance provider tells me that they will pay all jewelry stolen except one, the most expensive, which is worth 6,250 euros, as proved with the invoice I provided.
They told me that as it cost more than 5,000 euros I am not covered because it should have been declared when making policy.
I am not satisfied because I understand that they should at least compensate me the 5,000 euros limit for theft of jewelry.
Am I right? What can I do? Thanks.
Moderator, Sergio Sanguino
The policy you have contracted states that “unless explicit statement it shall not be entitled the compensation of those jewels which are worth more than 5,000 euros”
This is, the Insurance Co. argues that the absence of any statement to that effect at the time the policy is underwritten indicating the existence of that jewel and its value, incurred in the exclusion of that jewel insured thereof.
What you mean regarding the Insurance Co. not paying the excess of 5,000 euros, ie pretending the jewel should cost that much might serve to policies which simply states that jewels that are worth than X must be reported but in this case the policy is exhaustive: you have no right to get compensation, so we understand that the Insurance Co. works properly.