Valuations and Insurance Claims

Winsor Bishop is able to offer valuations for the purpose of Probate, Family and Insurance Claims. All items left at on our premises are insured under the Winsor Bishop insurance policy. Jewellery valuations are priced in banded increments in accordance with the total value of the items. A minimum charge of £85 (inc VAT) is applicable.

Why You Need a Valuation

Watch and jewellery items are precious and need insurance to protect them, but of equal importance is a professional valuation detailing the pieces and how their value has been determined.

In the event of loss, the onus is on the insured to prove they have had the items for which they are making the claim. Valuations establish that you had the pieces at the time of the valuation and their correct replacement value for insurance purposes. Your valuer will confirm how often your items should be revalued. Precious metals and gemstone costs fluctuate greatly and regular valuations ensure your insurance values are correct. If some of your items are kept in the bank or a home safe at all times make your insurer aware of this as this should reduce your premium.

Insurance Claims

If you are in the unfortunate position of having lost an item or had it stolen we can help with a Post Loss Assessment for you. This service is free of charge. Simply come in and describe to us what has been lost and we will help you to find an item of equivalent value in the store. We will then provide you with a letter for your insurance company to state the replacement value of your item. Our preferred supplier of insurance is T.H. March due to their specialisation in watch and jewellery.

Probate Valuations

A valuation for probate purposes may be required upon the death of the owner of the jewellery and other valuables, in order to be submitted to legal representatives winding up the estate; possible liability for death duties may ensue. The values stated represent much lower values than for an insurance valuation, and are based upon an open market assessment of their worth at the time of death. The schedule will, typically, contain less descriptive detail.

Family Divisions

Family Division is the term used to cover divorce valuations, a division of property between two parties. Unfortunately, as more and more marriages are requiring the intervention of the legal system, this type of valuation is becoming increasingly common. The stress of divorce makes this a very delicate process and so we recognise it requires a valuer who is equipped to provide a sympathetic and discreet service in assessing the worth of the couple’s assets. A family division valuation uses the ‘open market’ to determine an asset’s value, as opposed to its price at retail. This is to ensure settlements are not based on previous purchase prices or insurance values which are disproportionate from the current, realisable value to the individual.

 If you require multiple items valued please book an enquiry by contacting [email protected] or 01603 620638.