You are charged the replacement value of the device to compensate HMD Global for the actual damages suffered in case the device was lost, stolen or damaged and the claim submitted was not considered valid by the insurance company.
A claim is not considered valid by the insurance company if:
(i) the information we provided based on your report is not clear, complete and true; (ii) the incident is excluded from the insurance coverage, as described on Annex C to the subscription service terms available at https://www.hmd.com/en_gb/subscription-service-terms; and/or (iii) two other claims submitted in relation to devices subscribed by you have been considered valid in the past 12 months.
The replacement value of the device reflects the actual damage suffered by HMD Global because it is calculated based on the price reputable dealers charge for devices similar to the one that was lost, stolen or damaged. You are entitled, however, to demonstrate that the damage didn’t occur or was significantly lower than the replacement value of the device you have been charged for.