Your selected question and answer
Question:
Is my home insurance policy new for old?
Answer:
For some things, yes, your policy is one of 'reinstatement' or 'new for old'. This means that some items will be replaced with a like for like replacement without any deduction for 'wear and tear'. For example, if you have damaged a 5 year old television, it will be replaced with the latest available equivalent model. The insurer may take wear and tear into consideration if replacing certain things such as clothing, linen, furs and cycles.
