Insure And Go using Amazon prices to settle a claim

souloho

I bought a travel insurance claim from Insure And Go and ended up losing my phone on holiday. After 3 months they've finally settled my claim for an 8 month old iPhone 5s 32gb for £313.77.

The policy doesn't replace items on a 'new-for-old' basis which is fair enough. They're letter says "We have based our settlement on the average price of this phone model on Amazon which is £415.30". They've deducted 10% as shown in my policy conditions as well as my excess. But why would they ever use Amazon prices to settle my claim, it's not an Amazon product!

Has anyone dealt with this type of thing before? Any suggestions on what I should say when I question the amount?

huckster

They have to base their settlement on some retail value. I can remember working in claims, that an Argos catalogue was used for some items to check the approximate price.

They deals with thousands of claims on a daily basis. They can't mess around too much.

Andy_L

Where else could you get good price data for a 2nd hand iPhone?

TSx

I don't even understand what the complaint's about.... Is the settlement sufficient to buy the phone second hand?

Aretnap

What do you think an 8 month old iPhone 5 is worth? How would you go about valuing it? Amazon Marketplace sounds like a reasonable place to start to me. Looking in your local Cash Converters would be another - but Amazon has the advantage of allowing you to see what a large number of retailers charge without getting out of your chair.

InsideInsurance

I used to use eBay sold item prices to value items not being replaced on a New for Old basis.

As has been said, how else do you expect them to value a secondhand item, esp for something lost/ stolen where they cannot even inspect its preloss condition?