Insurance Question - Burgled!
I don't know where else to post this. Hoping someone has been through this and has advice.
We were burgled last week. Only jewlery was taken. We were not home. We don't know how the thief got in; house was locked. Police say there have been several similar incidents in our town recently.
Our insurance is with State Farm. One piece of jewelry was covered under our Personal Articles policy, and I've already gotten a check for that.
Our Homeowner's has a $8,000 deductible and a $2500 max option for jewelry. Based on some 1990 appraisals, our loss is about $16,000 (not including what we've collected on the single article).
The Bloomington claims office tells me my claim is $16K minus $8K = $8K, period. They said they'd consider my claim based on what I'd PAID, not the appraised values. (I no longer have proof of payment for these items.)
My local agent had said my claim would be $8K PLUS $2500 under the jewelry option.
I'm thinking I should take the 1990 appraisals to an appraiser to get a 2007 value before I file. It doesn't sound right that the value would not be the CURRENT value, not what I may have paid.
Questions are: How is the value determined? Does the jewelry option get added on top? Or, is $2500 the max I can claim for jewelry? (In that case I wouldn't bother getting re-appraisals.)