Latest news with #MissingDiamonds
Daily Mail
23-04-2025
- Business
- Daily Mail
Don't fall victim to an insurance catch like the Ecclestones! All the policy pitfalls you never knew could stop you getting a payout - after couple's oversight cost them £25m
As Tamara Ecclestone and her husband learned the hard way, having home insurance doesn't necessarily mean you're covered for every eventuality. The F1 heiress and Jay Rutland were unable to recoup any of the £25million lost in Britain's biggest burglary because of an astonishing insurance blunder. International jewel thieves ransacked the family's Kensington mansion while they were on holiday, taking millions worth of priceless gems, watches and cash. But the family could not claim a penny back for the stolen goods because the insurance policy for their lavish £75million home contained an exemption clause for watches and jewellery that had previously gone unnoticed. The bombshell was one of several revelations in the Daily Mail's new podcast Heists Scams and Lies: The Hunt for Tamara Ecclestone's Missing Diamonds. Home insurers are now accepting as few as one in three claims to get properties fixed after fires, flooding and other issues, with rejections rising in recent years. The percentage of claims accepted for buildings and contents policies in 2023 was 72 per cent - down from 76 per cent in 2022, Financial Conduct Authority data found. For buildings-only cover it was 63 per cent in 2023, down from 67 per cent. MailOnline has now gone through some of the common reasons for insurers not paying out – from lack of cover to underinsurance and the 'wrong type of weather': Lack of cover Many claims are rejected because something is not actually covered by a policy, such as accidental damage or certain items being excluded in the terms and conditions. This is what Tamara Ecclestone and Jay Rutland found when they realised they could only make a £45,000 claim for 25 or 30 doors smashed down in the burglary. Watches and jewellery were specifically excluded from the policy on the couple's property, so they could not claim against the £25million worth that were stolen. Another common issue often not covered is damage caused by pets, such as a dog destroying a sofa – although this can sometimes be added as an optional extra. 'Wrong type of weather' Storm damage is the most likely reason for a home insurance claim rejection - with 9 per cent of extreme weather claims rejected, according to consumer group Which? Insurers can sometimes dispute whether the weather conditions can be defined as a 'storm', which can be defined as certain recorded wind speeds in the area. Damage caused by flooding due to bad weather is the next likeliest rejected claim at 8 per cent – with some rejections when damage had occurred 'too slowly'. Research by Which? earlier this month suggested insurers are using potentially unfair definitions of storms and floods to reject damage claims made by customers. Escape of water is the most common home insurance claim in the UK - accounting for about 30 per cent of all home insurance claims, according to MoneySuperMarket. Last December, a man whose house was wrecked by Storm Darragh was refused a payout after insurers said it was not a storm because the wind speed only hit 53mph. Dennis Iliffe was informed the winds that battered his property in Kidderminster, Worcestershire, were 2mph too slow for his insurance provider Ageas to pay up. This is because the Association of British Insurers defines a storm as 'a period of violent weather defined as wind speeds with gusts of at least 48 knots (55mph)'. An 'absolutely astounded' Mr Iliffe was facing being left £500 out of pocket after getting his aerial replaced and chimney repaired following the storm. However, after the story was reported in the media, Ageas confirmed that it had since received 'supporting information' from Mr Iliffe and had agreed to settle his claim. Wear and tear Homeowners often need to keep their property 'well maintained' for their insurance policy to be valid – and natural 'wear and tear' is normally not included. For example, roof damage will often only be covered if the roof is relatively new or if it has been checked by a qualified engineer within a stated time period. Normal 'wear and tear' is sometimes defined as faded or worn carpets, the colour fading on a sofa, the TV breaking because it is old or the window frames rotting. Among those caught out by the 'wear and tear' policy were couple Ali Clarke and Peter Willis whose ceiling fell on top of them as they slept in Hackney, East London. A large piece of plaster fell onto 60-year-old Peter's leg, leaving him with a broken fibula. His wife, 56, suffered a bloody nose after being hit by another piece. But three weeks after the incident their insurer rejected their £7,272 claim outright, claiming the damage to their 1930s semi-detached home was 'wear and tear'. Malcolm and Anne Terheggen, of Bedfont, Middlesex, also had a claim rejected in 2019 when a section of guttering crashed down from the roof in heavy rain. Their insurer Ageas initially refused to cover the cost because the wind speeds had reached 40mph which was 7mph below what the firm classified as a 'storm'. Then, Ageas's claims adjuster visited the property and said the damage had been caused by wear and tear to the fascia - which sits just below the rafters. Ageas later said hourly rainfall on that day had not exceeded 4.8mm, and cast iron guttering 'should be able to withstand that amount of rainfall at all times and therefore Mr Terheggen's claim was declined as a result of wear and tear.' Underinsurance Some properties can be deemed 'underinsured' if the value of the property contents or the total rebuild cost is not high enough on the policy. This sometimes leads to the insurance provider agreeing to pay out some of the amount claimed under what is described as the 'average' clause. To give an example, this means that if the sum insured is 25 per cent under the correct value, then there would also be a 25 per cent reduction in the payout. In monetary terms, someone with £80,000 of contents might only have a £60,000 insurance policy. This means a £40,000 claim would only get a £30,000 payout. The insurance company could also award a lower payout if it believes the claim has made at an unrealistic value. And a 'single item limit' is the most that an insurer will pay for one item. This means if your £3,000 ring is stolen but your limit is £2,000, the latter is what you will get. Wrong information Providing incorrect information to your insurance provider either in your initial application for the policy or during the claims process could see a claim rejected. This could include details on the proportion of the roof which is flat or the type of locks installed on the doors, which would be important in a burglary claim. Non-disclosure of facts is also an issue, such as when someone does not declare a previous claim to try to maintain a cheaper premium or no-claims discount. It is also important to keep insurers up to date with any changes to personal details such as your employment or marital status, as this could also affect the policy. Lack of due care Insurers will want to know the homeowner has done enough to prevent an insurance claim, such as ensuring the doors are locked and the windows are closed when out. For example, many insurance companies have a minimum requirement of TS007 three-star locks or a combination of a one-star lock and a two-star door handle. Some policies only cover fire damage if the property has working fire extinguishers which have been installed and then annually checked by a reputable provider. Lack of due care could also include your valuables being on display. If the insurer can prove that you did not take enough care with your property, it can reject a claim. Time passed Claims can also be rejected by insurers if someone is too late making the claim, with many insurers requiring notification as soon as possible after the incident. Other policies may give you a grace period of up to 180 days, but it is important to not delay making a claim and to check the small print on your policy.
Daily Mirror
23-04-2025
- Daily Mirror
Tamara Ecclestone unable to claim for £25million of stolen gems due to insurance blunder
F1 heiress Tamara Ecclestone and husband Jay Rutland's mansion in Kensington, west London, was ransacked and the thieves made off with millions worth of priceless gems and watches Tamara Ecclestone and her husband were unable to recoup any of the £25million lost in their burglary due to an insurance catch, it is reported. The F1 heiress discovered she and Jay Rutland could not claim a penny back for the stolen goods, which included jewellery and watches, following the crime in late 2019. The insurance policy for their sprawling mansion in Kensington, west London contained an exemption clause for watches and jewellery, which had previously gone unnoticed. International jewel thieves had ransacked the family's property while they were on holiday in Lapland. It left Tamara, 40, traumatised and so the socialite had to take extra security measures to protect her family. The thieves spent days scouting the mansions of London's rich and famous before selecting their final targets: the homes of Frank and Christine Lampard, the late Leicester City owner Vichai Srivaddhanaprabha and of course, the Ecclestone mansion on Billionaires' Row. In 2021, three men from Italy pleaded guilty at Isleworth Crown Court to conspiracy to burgle in three raids. Jay, 43, has said he accepted responsibility for a lack of diligence which meant the family were unable to make a claim for the valuables looted from their home. The art investor said: "Our total insurance claim was for, I think, 40 grand or 45 grand, something like that, which was for the doors in the house because [the burglars] literally smashed down about 25 or 30 doors. "If you can imagine, every door to every room was locked. So that meant they had to crowbar each door open. So, I remember we claimed on the insurance for those doors to be replaced, but that was it. Nothing else was insured. Don't get me wrong, that's our own fault and clearly it teaches you the importance of checking the small print. But that was one of the exclusions in the policy - watches and jewellery, very specifically." Jay spoke on Heists Scams and Lies: The Hunt for Tamara Ecclestone's Missing Diamonds, a new investigative podcast. This episode of the Daily Mail's true crime series lifts the lid on the burglary spree, which rocked the UK five years ago. In it, Jay adds: "For Tamara, it was literally every piece of jewellery that she'd accumulated since she was 16. I think she was lucky in the sense that it wasn't her wedding ring because she had it on her where we were. But there were lots of very sentimental pieces that she'd been given by her mum, by her dad, by other family members, by me." Almost none of the stolen property, snatched from the three mansions over 13 days, has ever been recovered and is thought to have been smuggled across Europe and beyond. In November 2021, Jugoslav Jovanovic, Alessandro Maltese and Alessandro Donati were jailed for a total of 28 at years at Isleworth Crown Court after pleading guilty to conspiracy to burgle.
Daily Mail
23-04-2025
- Entertainment
- Daily Mail
EXCLUSIVE Insurance catch that cost Ecclestones £25m in Britain's biggest burglary: Tamara's husband reveals the astonishing oversight which left them unable to claim for stolen gems
F1 heiress Tamara Ecclestone and her husband were unable to recoup any of the £25million lost in Britain's biggest burglary because of an astonishing insurance blunder, it has been revealed on a new investigative podcast from the Daily Mail, Heists Scams and Lies: The Hunt for Tamara Ecclestone's Missing Diamonds. International jewel thieves ransacked the family's sprawling Kensington mansion while they were on holiday in Lapland, making off with millions worth of priceless gems, watches and cash. And there was another gut punch to come when the devastated mother-of-two and her husband, Jay Rutland, discovered they could not claim a penny back for the stolen goods. Incredibly, the insurance policy for their £75million home contained an exemption clause for watches and jewellery that had previously gone unnoticed. The bombshell is one of several shocking revelations from the Heists, Scams and Lies podcast, out today and available on all good podcast platforms. The explosive new True Crime series lifts the lid on the burglary spree that rocked Britain, tracks the stolen loot across Europe and even features interviews with associates of the thieves themselves. Another bombshell revealed in the show is that the gang behind the break-in also targeted the homes of supermodel Kate Moss and musician Eric Clapton. The thieves spent days scouting the mansions of London's rich and famous before selecting their final targets: the homes of Frank and Christine Lampard, the late Leicester City owner Vichai Srivaddhanaprabha and of course, the Ecclestone mansion on Billionaires' Row. Some of the luxury watches snatched from the home Speaking exclusively to the Heists, Scams and Lies podcast, Mr Rutland said he accepted responsibility for a lack of diligence that meant the family were unable to make a claim for the valuables looted from their home. 'Our total insurance claim was for, I think, 40 grand or 45 grand, something like that, which was for the doors in the house because [the burglars] literally smashed down about 25 or 30 doors,' he said. 'If you can imagine, every door to every room was locked. So that meant they had to crowbar each door open. So, I remember we claimed on the insurance for those doors to be replaced, but that was it. Nothing else was insured.' The creative director at the Maddox Gallery added: 'Don't get me wrong, that's our own fault and clearly it teaches you the importance of checking the small print. 'But that was one of the exclusions in the policy - watches and jewellery, very specifically.' In just one hour the burglars cleared the mansion of 400 items of jewellery, watches and large sums of cash while the family were abroad. 'For Tamara, it was literally every piece of jewellery that she'd accumulated since she was 16,' Mr Rutland said. 'I think she was lucky in the sense that it wasn't her wedding ring because she had it on her where we were. 'But there were lots of very sentimental pieces that she'd been given by her mum, by her dad, by other family members, by me.' Almost none of the stolen property, snatched from the three mansions over 13 days in December 2019, has ever been recovered and is thought to have been smuggled across Europe and beyond. Prior to the raids, the gang also scouted a £3.5million central London property owned by Mr Clapton since 1991, and a £11.5million mansion in north-west London which was owned by Ms Moss at the time. A source close to the investigation confirmed that the two celebrities had been on the hitlist for the gang of thieves. 'Scouting missions were carried out on a number of celebrities' homes, because the thieves knew these people would have expensive jewels and memorabilia inside,' they said. 'The purpose of the reconnaissance was to get a feel for possible entry points and weaknesses – anywhere that looked too secure they would leave and move onto the next home.' Neither Ms Moss or Mr Clapton, named as the second greatest guitarist of all time by Rolling Stone magazine, would comment. But Mr Rutland told the podcast: 'I'm sure for them it feels like a lucky escape…because [the burglars] were clearly professionals.' A spokesman from Scotland Yard said they could not confirm which houses the burglars had observed prior to the break-ins. In November 2022, Italians Jugoslav Jovanovic, Alessandro Maltese and Alessandro Donati were jailed for a total of 28 at years at Isleworth Crown Court after pleading guilty to conspiracy to burgle. The fourth man, a Serbian said to have been the mastermind behind the heists, Ljubomir Radosavljevic, 43, remains in custody in Belgrade. An extradition request from the UK was turned down, but he faces charges in his homeland of trying to smuggle the stolen luxury goods across international borders and laundering £26million of assets stolen from Switzerland and the UK. The first series of Heists, Scams and Lies podcast, which launches today, tells the story of the most incredible burglary spree in British history from the perspectives of the victims, the detectives who hunted the thieves and even associates of the criminals themselves. Listen to Episode 1 now on all good podcast platforms, or binge the whole series from today by subscribing to The Crime Desk, the home of arresting podcasts. Join now to get full–and ad-free–access to our archive of over 200 episodes of The Trial, includling Lucy Letby, to the case of the man who plotted to kidnap and murder Holly Willoughby and our acclaimed series, The Trial of Lord Lucan. Plus, enjoy The Trial+, our brilliant new spin-off series with a bonus, members-only episode EVERY WEEK. And you'll get unrestricted, early access to our unmissable True Crime podcasts like 'On The Case' and, our brand new series, 'Heists, Scams & Lies,' with more unmissable new shows being added all the time.
