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does 1Cover Apply depreciation?

Yes, once you’ve made a claim and it’s been accepted, the value of your claim may be depreciated depending on how old the item is and how much its original purchase price was.

We do not apply depreciation to luggage and personal effects purchased during your Journey, Specified High-Value items listed on your Certificate of Insurance, or items purchased duty free prior to your departure.

Subject to the item sub-limits set out in the Product Disclosure Statement (PDS), the most we will pay is the original purchase price of any item less any depreciation that applies.

You can learn more about our depreciation rates and calculation, as well as tips on how to avoid depreciation.


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All FAQ answers are based on the current effective PDS. If your policy is older than the current PDS, please contact us or refer to your particular policy.

Any information contained on this website is general advice only and has been prepared without taking into account your objectives, financial situation or needs. You should consider these having regard to the PDS.