Questions regarding the results of the examination

In that case, it is an organisational misunderstanding – please accept our apologies. Only the relevant insurance company can provide information regarding expert reports. Please contact the relevant department there.

Our cover letter states the exact name of the insurance company as the client. You can usually find the contact details by using a search engine.

The conditions for a repair are:

• Your claim is plausible and verifiable.
• The current market value of your item is higher than the estimated repair costs.
• The ownership situation is clear and verifiable.
• You have agreed to a repair in the online questionnaire.

If any of these conditions do not apply in your case, the relevant insurance company will be able to advise you.

The value of an item (current market value) decreases with each passing day. Due to technological advances and competition, retail prices often fall rapidly, whilst repair costs remain the same or rise because fewer spare parts are being produced.

Consequently, an item that is fundamentally sound may, after just a few months, be worth less than the cost of having it repaired by the manufacturer. This is referred to as an economic total loss.

The current market value is the actual value of an item at the time of the loss. It is based on the specified economic useful life.

Every asset – whether technical equipment, a machine or a building – has such a useful life. It takes into account the loss of value due to technological advances, natural wear and tear, and the period over which an item can be depreciated. It should not be confused with the technical useful life: many items continue to function for longer, but this is irrelevant for the calculation of the current market value and is instead reflected in the residual value.

The economic useful life is determined by bodies such as the Federal Ministry of Finance, the Federal Association of German Experts or independent economic institutions.

Fair value is made up of three factors:

• Economic useful life: determined by the bodies mentioned above.
• Current replacement value: the new price on the date of the assessment, which we document in the assessment report. If a device is no longer available, a technically equivalent device is used as a basis. Excessive prices for individual remaining stock items are not considered to represent a realistic market value.
• Second-hand value factor: takes into account pre-existing damage not related to the claim. A distinction is made between genuine damage and age-related signs of wear and tear.

The obligation to settle the claim is limited to the damage actually incurred; neither the policyholder nor the insurer is liable for pre-existing damage.

Formula: current replacement value × current value factor × residual value factor

Example for a smartphone (all figures are illustrative):

• Replacement value: €1,000
• Economic useful life: 48 months
• Period of use to date: 24 months
• Second-hand value factor: 1
• Current value = €1,000 × (0.9 − 0.6 / 48 × 24) × 1 = €600

Sometimes individual parts of a damaged item can still be reused. In such cases, we assign a residual value – roughly the amount you could obtain for the components on the open market. If you claim the item back, the insurance company will deduct the residual value from the current market value.

In the online questionnaire, you can specify whether you would like to have the item returned to you in the event of an economic total loss. If you answer ‘No’, it will be disposed of after a storage period of 14 working days; we will issue a receipt on request. If you do not make a selection, we will assume that you wish to have the item returned.

If you have been compensated at current market value and have declined to return the item in the questionnaire, our storage periods apply. Once these have expired, it is no longer possible to return the item.

Important: If, for example, your claim has been rejected, you will automatically receive the item back immediately after it has been assessed.

If your item is in storage and the storage period has not yet expired, you can request a return here. Please note the section on ‘Residual value’.

We regret that you are not satisfied with the result and take your concerns seriously. Please describe them in as much detail as possible so that we can look into them.