Insurance Query

[mr_c]

Hi guys
I am not sure if this is in the right section or not. But essentially, I bought a TV for £1,699.00, 3 years ago.
I am having building work done and the builders broke the TV and we are going through his insurance to sort it.

The model that I bought isn't sold anymore, but the insurers have found a website that are selling a refurbished one for £600, so they are saying they will pay out £600 as that is the cost they have found, and that this amount will put me back in the position I was in before the TV was damaged

I dont think this is fair. My TV was in immaculate condition so i dont see how the cost of a refurbished version of my TV would be a fair settlement.

Does anyone have any advice on this?
Thanks

[Sam101]

I believe that you need to consider just what a 3 year old TV is worth, even though it may look good. Have you managed to find out the age of the refurbished model? If it is within 3 years then I can see why the Insurance company considers it a fair settlement.

After all, a car of 3 years old will never get the same price as it was new. You do need to be reasonable. However, you could insist that there is a 2 year guarantee, which the insurance company can back up? Just a thought.

[echat11]

You could make a counter offer to them e.g. give you the £600 cash as a settlement of the matter. Then purchase another one, technology has improved in 3 years, so has the cost, so essentially you will get a better TV for £800 (you'll have to pay £200, unless you can persuade the insurance to payout the £200), then the 'refurbished' model (old technology, poor warranty, usually 6 months).