Will depreciation be applied to my lost or damaged items?
Depreciation will be applied to claims for luggage and personal effects at such rates as reasonably determined by us.
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).