I was then given 10 days to provide the necessary information and supporting evidence (photos), I had stated the value of the item honestly, and paid extra insurance accordingly. To my disbelief parcel2go gave me a measly £8 for a £130 item, I rejected this, They then gave me a further £35 as a gesture of goodwill, in the form of prepaid postage to be used with parcel2go, I rejected this and tried to escalate my complaint which proves difficult when you can't speak to anyone.
According to the FSA, parcel insurance is not a regulated insurance. However under the advice from the CAB, who now take queries on behalf of Trading Standards as Consumer Direct was disbanded due to its cost, I have sent a recorded delivery letter out setting my case, I gave them 10 days to reply, which is up tomorrow.
I tried to claim back the postage and insurance charge via paypal and it was only when i escalated my complaint with them that they had the courtesy to respond.
I would prefer to resolve this amicably but, it seems that this one has the smell of court all over it....