Travel insurance claim for accidental damage

Vavitch

Hello

Whilst on holiday I made the foolish error of not putting the buggy brake on properly whilst my dslr camera etc was on it and it rolled off a jetty into the sea while my back was turned talking to daughter. I've made a claim on my insurance. It was deemed beyond economical repair.

Insurers have sent me this. What are your thoughts on it? (The other item was a power bank I'd only had a month).

Good afternoon

I acknowledge receipt of your recent correspondence and I can confirm that I can now offer settlement in the sum of £147.72.

This has been calculated as follows:

Cost of new £608.90 - 75% depreciation (94 months old) = £152.22.
Cost of new £20.99 - 2.33% depreciation (2 months old) = £20.50.

£172.72 - £25.00 = £147.72.

Please note that in the policy wording (copy attached) it states:

PROPERTY CLAIMS
These claims are paid based on the value of the goods at the time You lose them and not on a “new for old” replacement cost basis.

Therefore a deduction is made for wear and tear, I note that the (enter item details) are deemed to have a useful life of 3 years.

However the maximum amount of depreciation that we deduct is 75% as the items will still have some residual value.

The excess deducted above is the standard excess for your chosen cover type Gold.

I personally think that the offer is a little too low. A replacement second hand would cost more. Any advice appreciated.

Note: camera was a canon 500d eos with two lenses.

huckster

You can only really dispute the proposed settlement, if it is not in line with the policy wording.

Is the basis of settlement ( new cost and age) correct ?

If your answer is yes, you will have to accept.

If your answer is no, then go back to correct the info used to calculate the settlement.

jonesMUFCforever

Is there also an excess to take off?

Vavitch

Cost of new is as per receipts.

The excess is the £25 taken off.

I was just wondering if anyone thought this to be a reasonable offer. I've never claimed for something like this so a bit "wet behind the ears" in this regard. My sibling thinks I ought to see how much it would be to get another of same model and counter the offer.

tempus_fugit

It seems reasonable to me but if items if a similar age are widely available only at a higher value then get evidence of same and send it to the insurers in order to dispute the offer, and see what they come back with.

Caz3121

Vavitch wrote: »

I was just wondering if anyone thought this to be a reasonable offer. I've never claimed for something like this so a bit "wet behind the ears" in this regard. My sibling thinks I ought to see how much it would be to get another of same model and counter the offer.

have a look at the sold prices on eBay....looks like an ok offer....many sold for under £150 with extra lenses, case etc

Vavitch

I'm not sure I want to trust I would get a properly working one on ebay. However, I have responded to the insurance company with the below.

Hello


Thank you for your response. I have looked up the cost of replacements for the camera and have found these on Amazon. The costs are a little more than your offer. Of course, if you can find a reputable cheaper alternative I'm happy to go with that.!


Canon EF 75-300mm lens link
Canon 500d plus 18-55 lens link



Thanks all for your responses and advice.