If my jewelry shop was robbed one month ago, can I still collect on my insurance?

I have commercial jewelry insurance. Since I was out of the country on personal matters, no one was able to claim insurance for the theft. I just got the police report and I am thinking about calling the insurance company. The goods stolen are worth about $4000. Is my claim still valid? Do I have a chance to recollect my loss?

Asked on December 5, 2013 under Insurance Law, New York


Terence Fenelon / Law Offices of Terence Fenelon

Answered 7 years ago | Contributor

The answer to your question depends upon the terms of your coverage.  Read your policy.  It may require a prompt notice provision which may disqualify you for coverage.  However, considering that you were out of the coverage, coverage may still exist.  Usually, if coverage is denied, you still have the right to enter arbitration to determine coverage.  Good Luck

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