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“If your items are too extensively damaged (or were stolen) and you require a replacement device or item, the insurance provider offers a few flexible options to best suit your preference!
1) The insurance provider may send you instant cash (via PayPal or Venmo) or a one-day wire (US bank accounts only) for a refurbished replacement of your device.
2) If no replacement value can be found for your item, the insurance provider may send you the funds for the value of a newer model/available.
​As a general note, the insurance provider finds the replacement value of the item by looking at the cost of refurbished items of the same make/model/year. Check out Backmarket.com and Swappa.com to see the present value of your phone model or other devices.

Please visit the insurance provider’s website for additional information. “