Broken my TV! Insurance question.
Discussion
Had an incident with the TV this weekend and the result is I now need a new one! But I need a bit of help;
It's a plasma that I bought 8 years ago for just under £3k for which rather miraculously I have found the receipt! (I'm damn annoyed because it is an awesome bit of kit and nothiung like the cheap crap available on offer these days! Thing is I'm guessing this will be covered by my contents insurance but realistically what can I expect to get for it? I've been through my insurance policy but can't see if is a like for like replacement or if it is a decending % depriation of purchase price.
I have a compulsory and voluntary excess of £100 (total £200). Is it worth claiming? I don't want to become a statistic on insurance if I'll hardly get any money back. In 11 years of house ownership I've never had to claim for anything!
Anyone got any ideas as to the likelihood of a payout or am I better off not going through insurance and just swallowing the cost of a new TV??
It's a plasma that I bought 8 years ago for just under £3k for which rather miraculously I have found the receipt! (I'm damn annoyed because it is an awesome bit of kit and nothiung like the cheap crap available on offer these days! Thing is I'm guessing this will be covered by my contents insurance but realistically what can I expect to get for it? I've been through my insurance policy but can't see if is a like for like replacement or if it is a decending % depriation of purchase price.
I have a compulsory and voluntary excess of £100 (total £200). Is it worth claiming? I don't want to become a statistic on insurance if I'll hardly get any money back. In 11 years of house ownership I've never had to claim for anything!
Anyone got any ideas as to the likelihood of a payout or am I better off not going through insurance and just swallowing the cost of a new TV??
Depends on the t&cs of your policy, most I'd guess are like for like, so if it's a 42" plasma, they'll probably pay out for something of the same spec - so what, £400?? If that is the case then maybe it won't be worth bothering with. Your premium will almost certainly increase after a claim, regardless of any 'no claims bonus' that may or may not be protected...
Had an accident while decorating a few years ago. When moving my Sagem 46" DLP the missus let her end drop slightly causing it to break something inside.
Phoned the insurance and explained the situation and asked if it could be claimed.
They offered like for like, but when I explained that it was part of a home cinema and specialist they directed me to the 'electronics department'. A long chat with a nice chap there and I got twice what they originally offered in vouchers for Comet/PC world. Put some extra cash in and now have a 50" plasma as DLP is old tech now.
Worth asking, be nice, explain the situation - the worst case is they say no.
Phoned the insurance and explained the situation and asked if it could be claimed.
They offered like for like, but when I explained that it was part of a home cinema and specialist they directed me to the 'electronics department'. A long chat with a nice chap there and I got twice what they originally offered in vouchers for Comet/PC world. Put some extra cash in and now have a 50" plasma as DLP is old tech now.
Worth asking, be nice, explain the situation - the worst case is they say no.
rix said:
I forgot to add, if there is some special feature on your tv that you utilise that is only now found on higher spec models, it may be possible to argue the like for like on that basis?
The TV is a 32" plasma...try finding one of those these days! At the time it was top of the range and wasn't exactly cheap, unfortunately the insurance company don't seem to be being very helpful. My policy is new for old so I don't know how this is going to end up. Thing is I need a new TV and can't wait forever for it to be resolved...very frustrating. Many contents insurance policies have a single item maximum value - often £1000, £1600 or £2000. May be better to not declare you have the receit for a £3,000 television or thwy may say you were uninsured, or did you declare the value of the television when you took out (or renewed the policy: last time?
Aha going through similar myself!
Just in the process of negotiating with the chartered loss adjuster after a flood from the 3rd of November. The water came through the roof, flooded through the lathe and plaster ceiling in the master bedroom, and poured into the large 36" CRT television that we used to watch movies on from the server. What is interesting is that this set (10 years ago) was nearly £1000. We didn't want a flat panel panel tv because the picture is pin sharp - better than the 50" plasma downstairs (on SD anyway).
The insurance company recognised the following points:
1) It cannot be replaced with another 'like for like' CRT as they are not manufactured anymore.
2) It will be replaced by one of similar brand and quality - i.e. Toshiba and not a non-branded make.
3) It will be from their high end range, as it was a top of the range product in its day.
4) Toshiba do not make a 36", so it will be a 37" and an LED set with freeview, and HD but not with 3D.. which is fine.
5) My pride and joy video projector downstairs is still under offer - as the technology is still available (but really scary prices @ $25k plus), we are waiting to see what they offer. Ideally I would like it repaired and not replaced.. the loss adjuster seems to think this may be an option.
Seems to me that have some flexibility as I was asked to and provide some suggested replacements, and not just a case of "This is what you are going to get".
Just in the process of negotiating with the chartered loss adjuster after a flood from the 3rd of November. The water came through the roof, flooded through the lathe and plaster ceiling in the master bedroom, and poured into the large 36" CRT television that we used to watch movies on from the server. What is interesting is that this set (10 years ago) was nearly £1000. We didn't want a flat panel panel tv because the picture is pin sharp - better than the 50" plasma downstairs (on SD anyway).
The insurance company recognised the following points:
1) It cannot be replaced with another 'like for like' CRT as they are not manufactured anymore.
2) It will be replaced by one of similar brand and quality - i.e. Toshiba and not a non-branded make.
3) It will be from their high end range, as it was a top of the range product in its day.
4) Toshiba do not make a 36", so it will be a 37" and an LED set with freeview, and HD but not with 3D.. which is fine.
5) My pride and joy video projector downstairs is still under offer - as the technology is still available (but really scary prices @ $25k plus), we are waiting to see what they offer. Ideally I would like it repaired and not replaced.. the loss adjuster seems to think this may be an option.
Seems to me that have some flexibility as I was asked to and provide some suggested replacements, and not just a case of "This is what you are going to get".
Glosphil said:
Many contents insurance policies have a single item maximum value - often £1000, £1600 or £2000. May be better to not declare you have the receit for a £3,000 television or thwy may say you were uninsured, or did you declare the value of the television when you took out (or renewed the policy: last time?
That's not how it works, they will pay up to the maximum for the item not refuse to pay for it!Due to a light fingered, uninvited visitor, my netbook (1 year old Asus) and camera (5+ year old Canon, which cost about £250 new, and two memory cards)
The insurance company a list of replacement items and where they could be obtained for the price they quoted. All web based outlets.
Actual model of netbook could still be bought for what I paid.
Digital camera technology has moved on considerably so a Canon Ixus 105 as a replacement for an old Ixus 50 was probably fair. Memory cards are a lot cheaper now and Amazon was suggested as a source.
Most household policies have an excess which comes off the payout, so you have to weigh up whether a claim is worth it compared to what your renewal premium will be.
I took the money and put it towards a better netbook. I was going to upgrade the camera anyway but I'm still deciding what to go for.
The insurance company a list of replacement items and where they could be obtained for the price they quoted. All web based outlets.
Actual model of netbook could still be bought for what I paid.
Digital camera technology has moved on considerably so a Canon Ixus 105 as a replacement for an old Ixus 50 was probably fair. Memory cards are a lot cheaper now and Amazon was suggested as a source.
Most household policies have an excess which comes off the payout, so you have to weigh up whether a claim is worth it compared to what your renewal premium will be.
I took the money and put it towards a better netbook. I was going to upgrade the camera anyway but I'm still deciding what to go for.
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