In a message dated 8/9/2005 9:34:44 A.M. Central Daylight Time,
chris@xxxxxxxxxxx writes:
A few years back, when my flat was cleaned out by the neighbours,
the insurance settlement for my hifi and AV kit consisted of a
voucher only redeemable at Dixons.
A bit strange compared to how such matters are settled on this side of the
pond. That being said, most contracts say that the insurance company will
replace with "like kind and quality" in the event of a loss. If Dixon's was
in
fact doing that for you, then it would appear the insurance company likely
was fulfilling their side of the contract. Another caveat on this side of the
pond is that if you have "replacement cost" coverage, the insurance company
really doesn't owe you "replacement cost" unless you replace your stuff. So
if you just want to take your money and run, you are only owed "actual cash
value" or a depreciated amount. I would guess this voucher system was giving
the company a way of knowing your stuff was being replaced by a reputable
company with whom they no doubt had a favorable pricing arrangement. It also
let
the insurance company finalize their claim. Bill Barber
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