Poor handling

I am extremely disappointed with the way my claim has been handled by Naked Insurance.

I insured a Denon DJ SC LIVE 4 System, and after submitting my claim, I received the following response from Naked:

“Since you insured a Denon DJ SC LIVE 4 System, it's our responsibility to replace that item and put you back in the position you were in before the loss. Based on the quotes we received from our service providers, we were able to source a suitable replacement. We can either authorise that replacement directly or provide a voucher, claims card, or cash settlement for the value of the replacement we sourced.”

While they clearly state that a cash settlement is an option, they are now refusing to actually provide the cash payout, and are instead pushing for alternatives like vouchers or replacements.

This is unfair and misleading for the following reasons:

The policy communication explicitly includes cash settlement as an option

I, as the client, should have the right to choose how I am compensated

Forcing a replacement or voucher limits my flexibility and may not reflect my actual loss or preference

This feels like an attempt to control the outcome in favour of the insurer, not the customer

I am requesting that Naked Insurance honours their own statement and allows me to proceed with a cash settlement equivalent to the value of the replacement they sourced.

If this matter is not resolved promptly, I will have no choice but to escalate it further.

I expected better transparency and fairness from a digital-first insurer.

Desired resolution:Cash settlement paid out in full, as stated in their communication.