We bought a top of the line Kitchen Aid built-inn fridge from Sears 6 years ago and bought all the protection plans with it. It is still under protection plan. The fridge was worth $7000 dollars when bought.
It broke down 6 weeks ago and since then we have been banging our head with Sears repair services and Protection plan agreement and Sears has been sending people to repair, order parts etc. Etc. Every time a repair man comes and mentions a new problem and orders another part and we wait for weeks for it to arrive. We have been living without a fridge for last 6 weeks.
Eventually Sears told us that this fridge is not manufactured anymore and that the part that is needed is not available anymore. Finally they came back with an offer that they would pay us 3000 dollars to buy new one. I bought original one at a discounted price of $5800 and they say that since it was old, they won't give me full amount.
Is it fair? They are now using depreciation to figure out the replacement value. They don't want to replace it, they can't fix it and they are giving me half of the price I purchased it at. The agreement doesn't say that depreciation cost would be considered when determining replacement value. The similar fridge from Kitchenaid costs $8000 now.
Is it fair? I can understand that they won't pay more than what I purchased it for but now suddenly they are using depreciation to determine the replacement value. The service has been pathetic. Usually the service people would ask for 2 days time to call back and then they would never call back. They would apologize everytime but no resolution.
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