looking for your thoughts here. I recently renewed my home isurance and realised that in the worst-case scenario, my Naim/Linn system would be incredibly pricy to replace and I thought I ought to see what the modern new-for old would likely cost. I’ve make a stab at listings out what the modern equivalent would be & would appreciate thoughts:
I estimate from quick googling that this lot would come to about £84k - list price of course, and I would hope to get a substantial discount should I ever buy that much gear from a single supplier in one go!
When I asked my insurance company about listing hi-fi, they were surprisingly uninterested and said as long as the total claim was below the sum insured it wouldn’t be a problem. I will ask again this year come renewal time as I have upgraded significantly, just to be sure.
If you’re just after monetary value I can’t comment, but the NPX power supply only powers new classic kit, so what you list isn’t a system that is fully compatible with each other, at least as I understand the NC/OC power supply compatibility
The fact is you can buy most of your equipment used still. They will ask for photos and receipts or valuations of your current equipment if you make an insurance claim. It might be an idea to have photos in any case.
By all means try that argument if you ever need to make a claim, but the 500 series is a step up the Naim hierarchy from the Classic series in both performance and price. With the Classic range being replaced by New Classic, I would say that the 332/300 is the nearest you could get to a 252/Supercap now that it’s discontinued.
It would be good if Naim could update their product history page to include the new range of classics and close off the old classics with details of the product that has replaced them as they have done previously.
With this it’s possible to trace a history of a product and find the correct equivalent which would be powerful eveidence in the event of any dispute.
If you are insuring new for old, then this may be helpful, based on recent discussions with my insurers.
First print out the last few years of Naim prices. Some kit like snaxo will have only just been discontinued, otherwise take a view on equivalent. Second list all kit on a spreadsheet, with serial numbers, with original purchase price where known, current value and for the kit recently discontinued, calculate the average increases over a sample or the rest of the range and then add another column to spreadsheet. As long as the value (total) is what you have paid a premium for and you have evidence - photos if not original receipts, then that is the basis for any claim. As Chris says, you may have to justify 552 v 332; however if you have paid premium based on 552 being closer equivalent to 52, then it will be between you and the loss adjuster. I’m faced with this dilemma re speakers, now discontinued. There is an option, if you clearly document it, while calculating values, that if you wouldn’t replace a particular piece of kit, you don’t need to insure it, provided you can demonstrate you don’t need it, in any new system. It’s a fine line, but I’m not insuring some items, that I wouldn’t replace. My mutual insurers via the broker have now, incidentally, introduced a requirement to schedule all items over £7500. We have agreed I will simply provide my spreadsheet annually, since I make the point, without all the ancillaries, the system isn’t whole, which they have accepted.
Interested to know how that works? Provided the policy is new for old and a full premium has been paid, with terms of policy complied with, no reason to doubt a full claim being successful. The issue in general, with insurance, is that a full premium has indeed been paid. So easy to in ignorance, to fail to attribute current replacement costs throughout the house, including all ‘electrical’ items.
Learnt from recent renewal discussion that carpets are not within the buildings section, despite the fact that these are not removed when house sold. Realised that will now need to be added to my contents cover. The issue is to ensure all items have been insured at appropriate values, if not, indeed, the claim would be reduced.
The insurers’ aim should be to compensate you financially for your loss, not to provide a “modern equivalent” item. So keep your original receipts and hold out against any loss adjuster trying to chisel down on that value. You have paid the premium for the items insured, so accept no less than what you paid in the first place.
Great idea to list out the serial Nos. in a spreadsheet - ideally alongside images of the items. I no longer have the receipts for most of this kit, but I’ll see if I can get historic prices - sounds like a wise idea.
I do agree the 552 could lead to issues with the loss adjuster, but having spoken to two Naim dealers, they suggested in terms of getting me back to where I was, then the 552 is (understandably!) where they would steer me. In sonic terms, I would not be surprised if the 332 is closer to my old 52…