Returning from holiday, I lost my compact camera bought last November for about £280. The company have paid me £120 based on the second hand value. This seems unreasonable - does anyone know how to appeal this? I have yet to recieve the letter sent 24 Oct but the money has been BACS transferred to my account.
With respect, I think you have been treated very fairly; for the sum involved, I wouldn´t fight anybody - chalk it up to experience. If you want better insurance, then perhaps you could try a different source where you can pay a premium to get new for old/lost/stolen/broken.
I had such a policy during my active pro days and it was expensive and I still had to pay separately for things like weather insurance etc. if I was going on a shoot. However, the peace of mind was worth it.
I have no idea if such policies are currently available - the meltdown in banking etc. must be cutting everything to shreds.
Good luck, anyway.