Home Contents Insurance claim

sahun

I was recently burgled and have finally received a crime number from the police. They took my digital camera and xbox 360, halo reach limited edition console.

The problem is it is now more or less impossible to buy the console as it was limited edition and is out of production. I have looked on amazon and the console is being sold for £800 from an external seller.
Would the insurance company cover the £800 to buy the exact console or just reimburse me the £250 I originally paid? As I know insurance companies like refunding like for like.

I have a similar issue with the camera as my camera is no longer sold and the upgrade version is more expensive than the original price (however I actually would rather trade for a cheaper camera by a different manufacturer)

I am waiting for the 'Claims Validation Unit' to contact me to tell me whether my claim is successful or not (after a few more questions I believe)

Can anyone offer any advise as to what the insurance company might do?

Sahun

dogbot

Household contents is on a new for old basis. If the exact model isn't availible they will replace with the nearest possible match - so an xbox with a similar spec or camera with similar spec.

The alternative is that you will be given vouchers to go to Comet/Currys with or credit to an account an a suppliers website (not necessary a name you have heard of but a company that supplies insurers) and you can choose the items you want - might be £xxx credit to spend on whatever electricals you like or might be restricted e.g. to digital cameras. You can usualy then pay a bit more and upgrade if you want or buy a cheaper camera and some accessories.

It is highly unlilley that you would get cash.

They will be calling to ask you lots of questions - the interview might go on for a while and they might ask you similar things more than once. They are trying to check that the claim is genuine.

sahun

Hey guys, I have heard back from the Insurance company and they are unable to get me the Limited Edition Console, so have said they will get me the normal slim console and 'throw in an extra controller'. This means that I won't get the same monetary value, meaning a loss of about £40 for me! Can I request a cheque from the insurance company? Their reason for the less value is because I still have the game from the original box set. Also I have an extended warranty for the old xbox and would like to buy from the original place I bought the console.

My policy states: "We will repair, reinstate or replace the damaged property or, at Our option, pay in cash Our replacement cost for the loss or damage". Therefore if they cannot replace like for like then they 'should' send me the cash?

dacouch

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/10/oct-repair-replace-cash.htm

gregd_3

As i see it you have 2 options :-

1) Replace goods through insurers based on nearest equivalent
2) Obtain proof and send to your Insurers that you can still buy the Limited Edition model and they would have to pay this. Just because their supplier doesn't stock the particular model it doesn't mean you are not entitled to have the same model back.

sahun

I did find the limited edition console for £800 on amazon, three times the price I paid. The problem is they are trying to give me a cheaper version of the console.
Thank you dacouch, how would this relate to my claim?

gregd_3

It doesn't matter that it is 3 x what you paid. They still need to pay that cost to put you back in the same position.

Insurers have to take the rough with the smooth. Insurers philosophy is always to replace based on make and model/specification and not price paid, 9/10 with electrical items it works in their favour. Think of the cost of electrical goods say 5-10 years ago when plasma/lcd tv's were new to the market, people were paying £000's of pounds for them, price now to replace is a fraction of what people paid back then. They can not have it both ways ie if it comes down they pay the lesser amount but if it goes up they don't.

Send them the proof to show that the item can be purchased and the cost of it and use the above argument if they quibble and if they still do not back down then go to Ombudsman because I can guarantee that you would be successful.