Our claims manager was contacted following a bad storm we had last month. The policyholder was situated in a commercial unit with an internal guttering system which could not cope with the influx of water. Water over spilled from the guttering system damaging a number of laptop and computers, a server and a large Xerox multi-function machine.
An external company was appointed to inspect all of the damaged equipment which was all deemed beyond economical repair.
The issue JSW had to overcome was that the policyholder had purchased the Xerox machine 2nd hand for £4,399 from another business. The owner of the business is now retired.
The insurer only wanted to settle the claim for what the policyholder had paid, which was unacceptable as the policyholder could not replace the item for the same cost.
Craig, our claims manager discussed the claim with the policyholder. An agreement was made where he would accept a settlement for the items of between £9,000 -10,000. Craig brought it to the attention of the insurers that the offer was unacceptable and that the policy was new for old.
We located a link for a refurbished machine (this was the model which had superseded the one the policyholder had) at £9,500 including the extras which were on the damaged machine. This was sent over to the insurers for a reconsideration of the settlement.
Following a further discussion with insurers on the settlement figure, they agreed that the claim had been presented reasonably and agreed to settle the claim for the cost of the Xerox printer for £9,500. This was accepted by the policyholder.
If you want to get in touch with a member of our claims team, please don’t hesitate to get in touch with our team on 01782 566777. We always go the extra mile for our clients and strive to find the best possible outcome for you.