Contents Claim Value Calculator
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New for Old vs Indemnity Cover: What's the Difference?
Understanding your contents cover type significantly affects what you'll actually receive when you claim.
New for Old (Replacement) Cover
Pays the cost to replace your item brand new, regardless of its age or condition before the loss. This is the most common and valuable type of contents cover in Australia.
Indemnity Cover
Pays the depreciated value of your item - what it was actually worth immediately before the loss, accounting for age and wear. This typically results in a lower payout, especially for older items.
Tips for Contents Claims
- Keep receipts and photos of valuable items where possible
- Check your policy's single item limits - many policies cap individual item payouts unless specified separately
- High-value items (jewellery, art, equipment) may need separate "specified items" cover
Estimates only. Actual claim values depend on your specific policy terms and insurer assessment.