How is Depreciation on items applied?

Depreciation is applied based on the age and wear and tear of the item.

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

No depreciation will be applied to luggage and personal effects purchased duty free prior to your departure, luggage and personal effects purchased during your trip, or Specified High Value Items listed on your Certificate of Insurance.

Depreciation will be calculated as per the table below and is also detailed in the Product Disclosure Statement (PDS).

Depreciation Table for Unspecified Luggage and Personal Effects
Luggage or Personal Effects Item Claimed	Types of items (but not limited to the below examples)	Depreciation amount applied from the date of purchase. (Applied for each month you* have owned the item)*	Maximum depreciation applicable (% of original purchase cost)
Toiletries	Cosmetics, moisturiser, skin care, make-up, perfume, hair products and medications	3% per month	Maximum of 80%
Computers and Electrical Devices	Personal Computers, video recorders, cameras, photographic equipment, mobile phones, tablets, personal computers, and electronics devices or equipment	1.75% per month	Maximum of 60%
Clothing, Shoes, Luggage and Books	Your clothing (including sporting clothing), shoes, suitcase, handbags, jackets, underwear, accessories (but not jewellery), Prescription eye glasses and sun glasses.	1.75% per month	Maximum of 80%
Camping, Sporting and Snow Sports equipment, musical and leisure equipment (but not clothing)	Skis, snowboards, guitars, bicycles, tennis racket, golf clubs	1% per month	Maximum of 60%
Jewellery	Earrings, Ring, Necklace, Bracelet	0.25% per month	Maximum of 25%
All other items		1.25% per month	Maximum of 60%

Cover is subject to the policy terms, conditions, limits and exclusions in the Product Disclosure Statement (PDS).