What we will pay – new for old
Damage to or loss of your contents - repairing or replacing your contents
If an insured event causes damage or loss to your contents during the period of cover, we will:
decide to repair or replace your contents or pay the cost of repairing or replacing them.
If we decide to repair or replace your contents:
it will be with new materials or new contents,
we will make reasonable endeavours to match materials and contents. Where this does not achieve an exact match,
materials and contents that in our opinion match the lost or damaged contents as near as reasonably practicable will be used.
If we decide to pay the cost of repairing or replacing your contents:
our payment will not exceed the amount covered,
our payment will be the current retail price or the discounted price we may obtain, whichever is lower.
We do not pay for:
the repair or replacement of undamaged contents or undamaged part of them to match contents we have repaired or replaced.
any decrease in the value of a pair, set or collection when the damaged or lost contents form part of the pair, set or collection.
We pay only for the repair or replacement of the item which was damaged or lost.
damage or loss on a ‘new for old’ basis for old contents which have passed their ‘use by’ date and are stored away, for example,
clothes which you have outgrown, old books or an old TV. We pay the reasonable market value for these contents based on their age and condition at the time of the loss.
the cost of installing or recreating computer software, or the cost of rewriting your records, working or entertainment files or any other information on your computer or held elsewhere at your home.
Our payment may be reduced if you do not maintain your contents in good repair
We insure your contents on the condition that they have been and will continue to be properly maintained and repaired.
If, when you claim for damage or loss, your contents have not been properly maintained and repaired, we may reduce our payment to reflect your contents’ diminished value.
Other costs
Our payment will include, where applicable, the following costs and these costs will be included within the amount covered. Where we decide to reimburse a cost you have incurred,
our payment will not be more than the actual cost you incur.
Removal of debris
If the removal from your home of damaged or destroyed contents is necessary, we will pay the reasonable cost of the removal, and, at our option, make the necessary arrangements.
When your contents are removed for storage or repair
If your home is damaged or destroyed by the insured events of fire and theft, we will pay the reasonable cost of any necessary removal and storage of your contents during the reasonable
period up to 12 months required to repair or rebuild your home.
We will also pay for any additional damage or loss to your contents caused by the insured events of fire and theft while they are at the place of storage or repair, provided the amount covered is not exceeded.