If the item was stolen or is deemed beyond repair, Poppins Warranty applies depreciation rules to calculate the payout for the replacement.
Depreciation Period: We apply a 5-year or 7-year depreciation scale, depending on the category of the item. We calculate this based on the original date of purchase.
Market Analysis: Our team analyzes the current second-hand market to determine the fair value of the item at the time of the loss.
Fair Payout: We aim to pay out an amount that is sufficient for you to replace the lost item with one of a similar age and condition on the current market.
Category | Depreciation Period | Examples |
High-Tech & Electronics | 5 Years | Smartphones, Laptops, Cameras, Drones, Gaming Consoles, Electric Scooters. |
Leisure & Tools | 7 Years | Power Tools (Drills, Saws), Camping Gear, Musical Instruments, Sports Equipment (Bikes, Skis). |
Furniture & Household | 7 Years | Projectors, Sound Systems, Portable Appliances, High-end Furniture. |