This article only applies to our Urban Jungle Contents Insurance, Buildings & Contents Insurance (not Buildings Only Insurance or Tenants Liability Insurance) and Select By Urban Jungle Building & Contents Insurance. If you’re unsure about which policy you have, please refer to this article.
In the event of a claim on our Contents or Buildings & Contents policies, when there has been total loss or destruction of any item, this policy replaces most items on a "new-for-old" basis. A deduction for depreciation and wear and tear will be made for items such as mobile phones, bikes, and laptops.
Refurbished phones and laptops are treated as new at the point they were purchased by you, and should be insured at their refurbished value.
You can read more about this in the “How your Claim will be Settled” section in your policy document that you can access through the My Account section of our website. If you don’t have a policy with us you can read more in our Contents sample policy document, and our Buildings & Contents sample policy document.
In the event of a claim, phones, laptops, bikes and clothes will be replaced based on their depreciated value (10% deduction per year for wear and tear from purchase). All other covered items will be replaced new-for-old.
It’s worth noting that the full replacement value of your contents should not exceed the level of cover you’ve chosen. If your cover level is lower than this value, your claim payout may be reduced.
You can read more about the claims process in your policy document, which you can find by logging into the ‘My Account’ section of our website. If you don’t have a policy with us, please refer to this sample policy document.