Definitions from the Web
New-for-Old
Description:
The term "new-for-old" refers to a concept or practice involving the replacement of a used or damaged item with a brand new one, typically in the context of insurance or warranty claims.
Examples:
- As a noun:
- - If your television is no longer working due to a manufacturing defect, the insurance company will provide a new-for-old replacement.
- - Under our warranty policy, customers are entitled to a new-for-old exchange in case of any product malfunction.
- As an adjective:
- - The store offers a new-for-old policy, ensuring customers receive a brand new item when returning a faulty product.
- - If you purchase this extended warranty, you will benefit from new-for-old coverage for the entire duration.
- As an adverbial phrase:
- - The insurance company generously reimbursed the policyholder by providing a new-for-old settlement.
- - The customer was pleased with the new-for-old compensation received for their damaged vehicle.
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