Question Insurance advice

[fatshrimp]

About 6-8 weeks ago I claimed on my home contents insurance for a replacement for my Wife's lost watch.

She was convinced she lost it outside, but we turned the house upside down anyway and couldn't find it anywhere. I paid the excess and the insurance company replaced it without any fuss.

At the weekend, we found it wedged into an old book in our little office room. It must have fallen into a pile of books, been picked up and moved, then forgotten about.

So, we now have two watches, one of which has been reported lost.

Does anyone know if I'm obliged to inform the insurance company that we found it? Or am I free to do as I choose with the second watch?

For obvious reasons, I don't want to call up my insurer, and I can't find my policy docs. I guess if I keep it I'll be paying for it in the long run...

Cheers.

 

[Davros]

meh, you've paid the excess and got the second watch.

Technically you have committed a sort of accidental fraud, but as long as you dont make a habit of it, i would keep schtum about it.

 

[McNasty]

As the Insurance co have replaced the watch the old one is theirs. If your car was stolen and they replaced it , you wouldn't be given back the old one if it was found later. Same sort of rules apply.

 

[The Flying Scotsman]

So he should send the watch to the insurance company?

 

[Firestorm]

So he should send the watch to the insurance company?

In theory....

I would contact the insurance company and say its been found and see what they suggest.

But then again I work in insurance and would be risking my job if I didn't.....

 

[Usual_Suspect]

Ebay the new watch, simple

 

[McNasty]

So he should send the watch to the insurance company?

Not for me to say, but I don't think they would be very impressed to find out he had kept both. It depends how honest anybody is in these circumstances.
I would definitely inform them if it was me. :liar:

 

[Mad Cyril]

I would marry another woman up north somewhere and give her the watch.

If they find out about each other threaten to grass them up to the insurance company.

 

[RobM]

I'd tell all, it would be just my luck they'd find out and make me uninsurable. Peace of mind as well, knowing I'd done the right thing.

 

[fatshrimp]

As the Insurance co have replaced the watch the old one is theirs. If your car was stolen and they replaced it , you wouldn't be given back the old one if it was found later. Same sort of rules apply.

What about if I found the old car wedged in a book?

The thing is the old watch is now on a lost / stolen register, so even if the insurance co take it back, it's unlikely they would be able to sell it.

 

[southend-united_fc]

What about if I found the old car wedged in a book?

The thing is the old watch is now on a lost / stolen register, so even if the insurance co take it back, it's unlikely they would be able to sell it.

if you did i would buy the book off you

 

[Winkle]

Let me make this clear. "I would personally not try and defraud any insurance company" In saying that it seems that all you have done is claim on your insurance policy for an item that you thought had been lost. You could let them now, but in my oppinion you have paid the excess and probably will pay a higher premium next time around anyway. I have claimed many times on my insurance for legitimate items that have been lost or stolen and other times have not bothered just because of the hassle ( new for old, 100000000 quotes for items) that kind of thing. Just keep stoom, and dont claim for the next item..unless you prang your porsche that is!

 

[fatshrimp]

Using sophisticated voice disguise techniques I contacted my insurance company about it. The response was vague to say the least. Basically they didn't know what they would do in this situation (because I think no one has ever asked!). I stepped away gracefully before they asked for policy details.

I think that as I’ve renewed the policy in the meantime, it confuses matters for them.

So, I'm still none the wiser. Thanks for the input so far though.

Let me throw this open... What would you do?