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New for Old Contents Insurance


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I am having a problem claiming on contents insurance. Contents are covered for approx £40k on a new for old basis but when I tried to claim for burst tank damage to bedroom and lounge I have been offered only £2,000 from insurance company. When I queried this they said that some of the contents was were 15 years old but surely that is the point of taking out new for old insurance. After I queried this they have upped the offer to £2,500 but I don't think this is enough but am afraid to reject it in fear that they will refuse to pay out anything. What should I do?

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Itemise the items you're claiming for and get prices to replace with new.

Send all this to the insurance company. They have to honour th policy terms and conditions.

Just make sure there is no clause in the policy that only allows items up to 15 years old to be replaced new for old.

Have you got a copy of the T&C's?

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I did make out a list and supplied them with replacement prices but it is the loss adjusters who are dealing with it rather than the insurance company. There is nothing in the T&Cs to say must be less than 15 years old so I just don't understand why I can't replace my TV with a similar new one. What is the point in paying for new for old cover? Another way for insurance companies to get the arm in.

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I was asking for about £5k which I don't think is unreasonable to fullly fit out a bedroom and living room. They offered £2K and then £2.5K (after I complained). Why am I paying for contents insurance of £40K for the house (2.5 bedrooms, 2 reception, 1 small bathroom and 1 small kitchen) when all they offer me is 1/20th of the cover for 1/3 of the house.

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