House Insurance replacement TV offer

freeflyer

Hi all, claiming on accidental breakage for an 18 month tv that cost £1300. Figured it'd be worth the small increase in premiums for that price.

Claim handler has come back with a lower spec model and smaller size, and they will order it direct. The cost of the replacement is £1039, which i guess they take depreciation into account for my existing one.

What's my best choice of action here? Suggest a different model which is more equivalent to my current one? Offer to pay the difference for the higher spec? Ask for store vouchers/credit instead? The insurance broker (one call) originally said they would pay out direct to my account if the claim is successful, but the underwriter wants to order a replacement direct.

Thanks  

[Deleted User]

What are the terms of the policy? New for old? Like for like? Depreciation factored in? Do they offer a cash alternative?

That will help determine your best course of action.

[Deleted User]

Suggest a different model and see what they say.

What does your policy say?

freeflyer

It's like for like. The policy on replacement or payout is:

 - If we approve your claim we will ask you to pay the excess stated on your home insurance provider’s policy schedule. We will then repair or replace you damaged property depending on the type of claim. Alternatively we can make you a cash offer. We will decide which way of paying your claim is the most appropriate.

- If we suggest a repair, rebuild or replacement, we may offer to use one of our own partners. However if you wish to use someone else, you’re free to do so, but if this is more expensive than the rate we can get from one of our partners, you will be liable for any difference in cost.

-  If we decide not to repair, rebuild or replace your buildings or contents that you are claiming for, we will offer you a cash payment. We work out the offer by calculating the loss in value of your buildings or contents, as w

freeflyer

sorry, missed out part of the last section...

'If we decide not to repair, rebuild or replace your buildings or contents that you are claiming for, we will offer you a cash payment. We work out the offer by calculating the loss in value of your buildings or contents, as well as the estimated cost of repairing or replacing them. We will then offer you the lower of the two amounts'

400ixl

What model was the TV? After 18 months and newer models coming out you could probably get the same spec for what they have offered.

I wouldn't accept their offer if the size is different and is not what you want. Spec wise, it should also be the same / similar to the one being claimed for, anything above that would be a bonus.

Sandtree

How are you getting that replacement cost? You've seen how much the model they are suggesting is sold in Currys? That's what they've told you they are spending on it? Is that gross or net of your excess? If net of excess, then what's your excess?

The key thing that the policywording quoted doesn't say is if its a new for old cover... if it is they need to pay for an equivalent of your old tv less the excess, if its not then they have to get a tv at the approximate value of your old one as a non-new item less excess.

freeflyer

The cost of the TV they are offering is £1039, although I had to find that out by going on to the Currys website. It basically looks like i pay the excess separately, and then they order the replacement TV. This is their email:

SBS are looking to offer the following like for like replacement Sony TV:-
Sony KD-55X85KU
In order for SBS to order the replacement via Currys, we require the payment of your £200 excess via the below link:.

However, its not like for like, as its smaller and a much lower spec (Sony XH9505 is mine, this one is a Sony X85K) Currys do not have the modern replacement for my old H9505 (which would be the A95J) , only an equivalent TV from a different manufacturer.which would be roughly the same cost as that which i paid originally.

400ixl

What size is your original if they are offering a smaller 55" replacement, 65"?

freeflyer

the original is a 65.

Currys have what i would class as the current equivalent but from a different manufacturer at £1299.

400ixl

Other than the size, what is lower spec? They are both Direct LED, Dolby Vision and HDR10 with 120Hz and Android TV.

If you could get the pay out then you could get similar from Richer Sounds with the 5-6 year guarantee.

Sony equivalent of your model for £1169.10 https://www.richersounds.com/sony-bravia-kd65x80ku.html

Or save money and get an equivalent Philips which does HDR10+ which the Sony doesn't for £799 https://www.richersounds.com/philips-65pus8507.html

Or for slightly more but less than the Sony get an upgrade to OLED with an LG for £1099 https://www.richersounds.com/lg-oled65a16la.html