Insurance company advice

naaads_xo

Hi I would like some advice regarding my insurance company. I bought an iPhone 16 which I only had for a few days (4 days to be exact) before it got stolen. The policy says the following:

Replacement item: A Gadget of the same age and condition and specification (We cannot guarantee that it will be the same colour as the original Gadget) or, if not available, one of comparable specification or equivalent value taking into account the age and condition of the original Gadget. For clarity, this is not a ‘new for old’ policy and the replacement item can be a new or refurbished item of equivalent specification. A replacement will be provided with a minimum 6 month warrant

The claim handlers want to provide me with a refurbished phone and they have said that I have to accept it. I told them that I don’t want a refurbished phone, the policy says it can be a new or refurbished phone and it is only fair they offer a new phone as I only had it for a few days before it got stolen. I requested for a cash settlement instead if they can’t provide a new phone, they said that might not be possible as they don’t know the cash value of a refurbished iPhone 16 on the market right now. I paid the phone on credit so I have 1 year to pay the phone off. I told them I would prefer if they settle it with a cash settlement so I can use the money to pay for the phone that was stolen off as I don’t want a refurbished phone. 

Any advice please? 

DullGreyGuy

What refurbished phone are they suggesting given the second comment that there are no refurbished iPhone 16s yet?

naaads_xo

DullGreyGuy said:

What refurbished phone are they suggesting given the second comment that there are no refurbished iPhone 16s yet?

That’s what I thought but apparently they do have refurbished iPhone 16s. They wanted to give me a refurbished 16 but it’s already been used.

Ayr_Rage

naaads_xo said:

DullGreyGuy said:

What refurbished phone are they suggesting given the second comment that there are no refurbished iPhone 16s yet?

That’s what I thought but apparently they do have refurbished iPhone 16s. They wanted to give me a refurbished 16 but it’s already been used.

Your stolen phone is also used !

A refurbished replacement might only be 3 days old.

You are at the mercy of the insurance policy terms.

DullGreyGuy

naaads_xo said:

DullGreyGuy said:

What refurbished phone are they suggesting given the second comment that there are no refurbished iPhone 16s yet?

That’s what I thought but apparently they do have refurbished iPhone 16s. They wanted to give me a refurbished 16 but it’s already been used.

Which their terms allow... Given the phone was launched on the 20 Sep it's not as if they are going to be giving you a 2 year old phone in exchange for your nearly new one. 

naaads_xo

DullGreyGuy said:

naaads_xo said:

DullGreyGuy said:

What refurbished phone are they suggesting given the second comment that there are no refurbished iPhone 16s yet?

That’s what I thought but apparently they do have refurbished iPhone 16s. They wanted to give me a refurbished 16 but it’s already been used.

Which their terms allow... Given the phone was launched on the 20 Sep it's not as if they are going to be giving you a 2 year old phone in exchange for your nearly new one. 

But their terms also allow a new phone so that’s why I’m confused. If it was only refurbished phones they provided as a replacement and that’s what it stated on the t&c I would understand but it doesn’t, it’s as if they’re trying to max their profits. 

Peter999_2

I dropped my 2 day old iPhone 4 back in the day (when iPhone's were still worth buying) on a bathroom floor and shattered the screen. 

I was told I would have to accept a refurbished phone to replace it - but it turned out that they had a stock of brand new phones in blank cardboard boxes purely for replacing broken phones.   As everyone else has said, the phones are so new you are unlikely to know the difference.

400ixl

The policy say it is not a new for old policy so you have no rights to demand a new phone. It is at their discretion as to whether. they off new or not, its not your choice.

They are offering you a refurbished phone, which is different to a used phone. A refurbished phone should be as new with and damaged elements such as a screen or case replaced.

If they do value a cash settlement, it is going to be the value they can buy in a refurbished phone. Likely several hundred pounds below new retail prices.

Accepting the refurbished phone and moving on is the best you will really get financially.

If you want a new for old policy in the future, you need to buy one.

DullGreyGuy

naaads_xo said:

DullGreyGuy said:

naaads_xo said:

DullGreyGuy said:

What refurbished phone are they suggesting given the second comment that there are no refurbished iPhone 16s yet?

That’s what I thought but apparently they do have refurbished iPhone 16s. They wanted to give me a refurbished 16 but it’s already been used.

Which their terms allow... Given the phone was launched on the 20 Sep it's not as if they are going to be giving you a 2 year old phone in exchange for your nearly new one. 

But their terms also allow a new phone so that’s why I’m confused. If it was only refurbished phones they provided as a replacement and that’s what it stated on the t&c I would understand but it doesn’t, it’s as if they’re trying to max their profits. 

Yes, it's at their discretion not your choice. They are very clear its not new for old. 

Your other option is to claim off your Home Insurance, if you have the appropriate coverage, which is more likely to be New for Old.