How we settle household insurance claims
We may at our option repair, reinstate or replace the lost or damaged property. If we cannot replace or repair the property we may at our option pay the loss or damage in cash.
If we do pay cash the amount we pay will reflect any discounts we may have received had we replaced the property. The cover limits will not be reduced by any claim.
We may appoint an approved supplier to act on our behalf to validate the claim. They are authorised to arrange a quotation, a repair or a replacement.
We will settle claims for loss or damage to items which are not capable of economic repair on the basis of cost as new as long as:
- The contents have been maintained in good repair
- The limit shown in the policy schedule is sufficient to cover the full value of the property
There will be an amount taken off for wear and tear to clothes, furs and household linen.
We will settle claims for loss or damage to the buildings without taking off an amount for wear and tear as long as:
- The buildings have been maintained in good repair
- The limit shown in the policy schedule is sufficient to cover the full value of the buildings