Check with your insurer about how they settle the claims.? The majority of insurers settle claims on a ‘new for old’ basis.? You might find they make a deduction for wear and tear on certain items, such as clothes.
Settlement is based on the item you had and not the price you paid for the item.
An example:? You had a 55 inch television purchased for ?1,300 about ten years ago.? The replacement model is based on the specifications of the television and not the price.? There might be a suitable replacement available which is ?1,000 less than the original price and this is what your insurer would offer you.? If you would prefer a cash settlement you might be offered a lower amount because the insurer will receive a discount from their supplier if they were to provide you with a television.