FAQ

General

About &insurance

&insurance is a company that brings amazing people together to make amazing things happen. We’re creating a seamless insurance experience that just works. Our innovation allows us to immerse technology and insurance in simplistic way. We currently offer renters insurance and risk management.  

How do I get a &insurance policy?

The full &insurance experience will be available through our iOS and Android apps, and you can purchase a policy also through our website.

How can I reach you guys?

You can get in touch with our team through our App and this website. Look for the ‘Help’ button on the lower right corner of this page. If you are considering &insurance, feel free to get in touch with us using the message box on this page.

Do we work with businesses or just individuals?

We work with both! Our educational tools are designed for everyone. We complement the benefit of working with businesses who have their renters as the company’s top priority.

Is my information kept confidential?

We highly value and respect your privacy (see our Privacy Policy). We will not share or sell your information for marketing purposes. Note, we will share certain personal information with our partners and providers in order to run our service and to resolve an incident.

Policy Stuff

How do I know what my policy covers?

You get to see a summary of your coverage when you sign up. You’ll also be able to view your renter’s insurance policy designed by &insurance that explains your coverage and other policy related items such as the deductible, start dates, and more. After signing up, we will instantly issue your final policy and send it to you by email.

How do you calculate my premium?

Premiums are based on a number of different factors including your property, its age, size, and construction quality. We also provide a discount for policyholders who hold a residential lease from our building partners.

What kind of policies does &insurance offer?

We currently offer renters insurance…more policies coming soon.

Can I increase or reduce my coverages?

You can, within limits. A renter’s policy can be changed at any time.

What if I want to cancel my policy?

You can cancel your policy at any time through our website or our app. And if you ever want to come back? No problem! Keep in mind that our policies are exclusive underwritten for your apartment community. But, please make sure that your landlord is a partner with &insurance.

Can I switch to &insurance if I already have an active renters insurance policy?

Sure, you can! If you’re a renter, we’ll simply ask for your current policy number and insurance company’s name, and email your provider notifying them of your change in policy to switch you over seamlessly to &insurance.

How do I change my address for my &insurance policy?

Congrats on the new place! Also, don’t freak out — just contact our dedicated Customer Experience team.

Is my roommate covered?

No. Insurance only covers you and the property you legally own. Your renters policy automatically covers all residents of your household who are related to you by marriage, blood, or adoption, so make sure you buy enough coverage for all your (and their) personal property and pets! You can easily add their name to your policy, if you like, when you’re signing up, with no extra charge. Btw, no need to add your spouse to your pet policy in order for them to participate.

Is my significant other covered?

If you’re living with your significant other, you can add their name on to your policy at no additional cost.

What kinds of bad things am I covered for with renters insurance?

Your renters policy covers you for bad things such as property damage, or perils, personal liability, and also covers extra living expenses, if one of those covered things happens.

What kinds of things are not covered under a &insurance policy?

Unfortunately, our policies can’t cover every annoying thing that can happen. Things like your power, water or heat going out in your condo or apartment in the dead of winter, or if your apartment gets infested with bedbugs. We also don’t cover personal property that gets mistakenly lost or broken. We made some cheat sheets of what’s not covered under renters, policies to help you really know what you’re getting.

Is my laptop covered?

Yes! Your &insurance renters policy covers your personal electronic equipment up to the amount stated in your policy when signing up. Coverage for laptops, phones, tablets, TVs, and other personal electronics are all included, as standard, in the policy. Please note that this is coverage against the list of specific perils mentioned in the policy such as Theft, Fire, Explosion, Vandalism, etc. Now be careful with it, because your policy doesn’t cover loss or breakage if you drop it!

How do I add Extra Coverage for my expensive items?

We’ll be offering the ability to add extra coverage for other types of property soon, but in the meantime, you can rest easy knowing the policy already has basic coverage built in for your big purchases like furniture, designer clothing, bike, personal computer, and personal electronics.

If my dog bites someone, am I covered?

Essentially, yes. If your dog bites someone you’re covered as part of your renters policy.

Can I have two renters insurance policies?

You can have two renters insurance policies. However, it is probably unnecessary since most renters insurance policies offer adequate coverage for you and your personal belongings when you are both on and off your property Having two renters insurance policy does not double your coverage. Filing multiple claims for the same loss is insurance fraud.

Can I sign up by phone?

&insurance is available for signup only through our mobile app and our website.

How do you calculate the value of my personal property during a claim?

We calculate the value of your personal property based on its current lowest as-new market value. If the item is no longer being sold, we will look for a similar one, and use that price as reference.

Do you offer earthquake coverage?

Unfortunately, we only offer earthquake insurance in Arkansas and California.

Claims

How do I file a claim?

Sign into your account through the &insurance website or app and hit the Claim button. We’ll guide you through the rest of the short process there.

How will I get paid for a claim?

Once your claim is approved, we’ll issue payment, minus the amount of your deductible, directly into your account.

How fast will a claim be paid?

Every claim is unique, and the length of the claim process depends on a number of factors. We make every effort to issue your claim payment within 24hrs.

Why does &insurance ask me to record a video during the claims process?

There’s no better way for us to understand your incident than by having you tell us in your own words. We’ll use your video solely for the process of handling or reviewing your claim.

What’s considered a claim emergency?

We define an emergency as an event that requires immediate assistance or temporary housing as a result of fire, ongoing water damage, or any other structural damage that leaves your home exposed. Shortly after you report an emergency, our response team will call you to assess the situation and provide you with emergency services such as water or fire damage cleanup, temporary housing, or a designated specialist as soon as possible. We have your back, 24/7. Lemonade has a network of emergency response and repair partners enabling us to respond to just about any incident at just about any time. For emergencies relating to your home and property where you don’t have access to our app or website, you may call us at: (844) 733-8666.

What documentation do you need from me? Do I need to take an inventory?

When reporting a claim, it’s helpful if you have the following:

• Your policy number
• The address of the claim location
• A brief description of the loss

 

Insurance, Explained

What is a deductible? The deductible is the amount that will be deducted from any claim payment you may receive. What is liability protection? We offer personal liability protection as part of our renters and homeowners policies, which means &insurance will hire a lawyer to defend you, and pay covered damages you are found liable for, in the event someone claims to be injured due to your actions or negligence, or there is property damage to someone else’s property caused by your actions or negligence.

What is an &insurance ID?

An &insurance ID is the personal account you use to access &insurance services like insurance policies, claims, support, and more. It includes the information you use to sign in, as well as all the contact and security details that you’ll use across &insurance services.

When do I use my &insurance ID?

Any time you download our app, make a claim, or use any &insurance service, you will be asked to sign in with your &insurance ID and password. Once signed in you’ll have access to the service and all the personal information in your account.

How many &insurance IDs do I need?

Just one. Use the same &insurance ID everywhere you sign in to ensure that all your &insurance services work together seamlessly, and you can access your personal information from all your devices.

Can I share an &insurance ID with someone else?

Your &insurance ID should not be shared with anyone else. It provides access to personal information including policy number, claims, address, and more. Sharing your &insurance ID with someone else means you are giving them access to all your personal content and may lead to confusion over who actually owns the account.

How can I keep my &insurance ID secure?

Security and privacy are very important to &insurance and we provide a number of ways to secure your &insurance ID and protect your privacy including strong passwords, two-factor authentication, and more. For more information or help, press the contact us icon below

Pet

Policy

 

How do I know what my policy covers?

You get to see a summary of your coverage and a sample of a policy when you sign up. We’ll instantly issue your final policy and send it to you by email. Here’s some important info for California pet parents.

 

How do you calculate my premium?

Pet premiums factor in your pet’s breed, age, and optional add-ons that you choose.

 

Does Lemonade require my pet’s medical history?

At &insurance, we require a medical record that includes info that covers the last 12 and a half months of your pet’s life (this includes the 14 day illness waiting period on your policy). If your pet is less than a year old, the medical record should include info from birth through the illness waiting period.

We need a full ‘nose to tail’ exam of your pet (called SOAP notes by vets). This will usually include:

• Notes on the condition of fur, skin, eyes, ears, mouth, joints, and other body systems
• Blood test/fecal test results
• Details on diet/exercise
• Details on current medications
• Date of last vaccination
• Any medications they are being sent home with today

 

Can I go to any vet?

You can go to any vet you like in the US. As long as they’re licensed to provide veterinary care in the state they operate in, it’s fair game.

 

What if I want to cancel my policy?

You can cancel your policy at any time through our website. Keep in mind that any illnesses or injuries that occurred or were diagnosed under your former policy will be considered pre-existing conditions on a future policy.

 

Can I sign up over the phone?

No, you can only sign up for &insurance through our website.

 

How do I change my address for my Lemonade policy?

Congrats on the new place! A move has different implications for different kinds of policies. For your pet health insurance policy, you can just open our website and let us know about your change of address.

 

 

Coverage

 

Can I increase or reduce my coverages?

You can submit a request to increase or decrease your coverages, within the first 14 days of your policy, and again at your annual renewal. Our team will then reach out and let you know if the changes have been accepted by our underwriting team. When you purchase a pet health insurance policy you have the option to add some additional coverages, like a preventative wellness plan and coverage for physical therapy. Before payment, we’ll show you a summary of your policy coverages.

 

When does my coverage kick in?

Once you activate your pet insurance policy, there are three different waiting periods to keep in mind before you can file a claim:

• 2 days for accidents
• 14 days for illnesses
• 6 months for cruciate ligament events

These waiting periods begin on your policy’s start date. We can only offer reimbursement for your claim after the applicable waiting period ends. That’s why it’s so important that you buy insurance long before you need it.

 

What is a deductible?

For a pet health insurance policy, the deductible is the annual amount you contribute before your insurance kicks in, which means it can be used up in one big claim or met after multiple claims over the course of a year.

 

 

What is co-insurance?

In case your pet gets sick or hurt, you are responsible for two different kinds of contributions to the costs of your pet’s diagnoses and treatments: your deductible, and the remainder of the cost after co-insurance.

Co-insurance is the percentage of the total cost we’ll pay on a claim. So, if the co-insurance you chose is 80%, then after your annual deductible is satisfied we’ll pay for 80% of covered costs when your pet gets veterinary care, and you’ll pay the other 20%. Keep in mind that this is applied to every claim.

 

Is my roommate covered?

No, you can’t share a pet health insurance policy with your roommate.

 

Can my significant other use this policy?

If you’re married, your spouse will be able to file claims on a policy in your name. If you’re sharing a pet, but not married, you’ll need to make sure whoever legally owns the pet has the pet health insurance policy.

 

What kinds of bad things am I covered for with pet health insurance?

Your pet health insurance policy covers the costs of diagnostics and treatments for accidents and illnesses. So, if your dog starts throwing up, and it turns out they ate something dangerous, you’d be covered for any medicine or surgery relating to it. You can read more about what’s covered here.

What kinds of things are not covered under a &insurance policy?

 

Unfortunately, our policies can’t cover everything. For your pet health insurance policy, you won’t be covered for pre-existing conditions, dental care, elective surgeries not related to an accident/illness, or anything that happens as a result of your neglect. We made some cheat sheets of what’s not covered under your pet health insurance policies to help you know what you’re getting.

 

Can I extend coverage on my pet health insurance policy?

 

Yes. When you purchase a policy you have the option of toggling on some additional coverages. Our Preventative and Wellness package means we’ll pay for preventative care costs (like annual wellness exams, bloodwork, vaccines, and more). We’ll also give you access to live chat with our pet health experts.

If you really want to go above and beyond for your pet you can add the Extended Accident and Illness package, which allows us to reimburse you for treatments for functionality issues (things like physical therapy, acupuncture, and hydrotherapy) that can help your pet through a recovery process. We’ll also pay for vet visit fees that are charged for accidents and illnesses.

Of course, there are some exclusions and limits on our coverages, and you can find them clearly explained in our policy.

 

Why should I add preventative care or add-ons to my pet health insurance policy?

Our base pet health insurance policy helps you pay for diagnostics and treatments related to accidents and illnesses, but you can add our Preventative or Preventative+ package, as well as our physical therapy and vet visit fees add-ons, to get reimbursed for a whole lot more, and keep your pet healthy.

 

If my dog bites someone, am I covered?

If your dog bites someone you’re covered as part of your renters or homeowners policy, not your pet health insurance policy. However, your renters or homeowners insurance won’t cover you if your dog has a history of biting or if your dog is categorized as high-risk. These breeds can be found in the ‘not covered’ section of our policy.

 

Policy Add-ons

 

What are the optional add-ons for a pet health insurance policy?

If you add the physical therapy add-on, we’ll be able to reimburse treatments for functionality issues (things like physical therapy, acupuncture, and hydrotherapy) that can help your pet through a recovery process. With the vet visit add-on we’ll pay for vet visit fees that are charged for accidents and illnesses (that’s the fee the vet charges for their time and labor, in addition to the actual cost of the treatment).

 

What’s included in the Preventative, Preventative+, and Puppy/Kitten Preventative package for pet health insurance?

The Preventative package covers things you’re probably already paying for, like your pet’s annual wellness exam, up to 3 vaccines, a heartworm or FeLV/FIV test, an internal parasite or fecal test, and a blood test. We offer our Preventative+ package, which covers heartworm or flea/tick medication as well as a routine dental cleaning. What’s more, &insurance’s designed a Puppy/Kitten Preventative package, tailored to the needs of young pets under 2 years old. The package covers everything included in the basic preventative package, as well as spaying or neutering, microchipping, and up to 6 annual vaccines.

 

Payments

 

How do I pay for &insurance?

After reviewing your coverage summary and having an opportunity to look at a sample policy, you’ll be able to pay using your credit or debit card. We will charge you when you pay for your policy, and every month thereafter. If you prefer, you can pay for your policy on an annual basis instead.

 

How do claim payments work?

Our pet health insurance is on a reimbursement basis, so we will reimburse you for our part of approved claims.

 

What if I miss a premium payment?

If your credit card is declined, we’ll ask you to provide us with a different one. Please note, we’ll keep bugging you to settle your tab, but eventually, we’ll have to cancel your policy. We’ll warn you first.

Availability

 

Where is &insurance pet health insurance available?

Alabama, Arizona, Arkansas, California, Colorado, Connecticut, District of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin

We’ll be rolling out our insurance products in additional states in the coming year.

 

Claims

 

How do I file a claim?

Easy! Just log into our website and hit the ‘File a Claim’ button. We will guide you through the rest of the short process there.

 

How will I get paid for a claim?

After you complete the claim report on the andinsurance website, you will be asked to enter your bank account information. Once your claim is approved, we’ll issue payment, minus the amount of your contribution, directly into your account.

 

 

 

 

How fast will a claim be paid?

Our goal is for the majority of simple claims to be paid almost instantly. For a pet health insurance policy, this could mean covering the costs of a procedure or test before leaving your vet’s office. There will be cases in which we’ll need to fully review the claim in order to approve it, and there will be claims that may take longer to settle. If this is not the first claim you are filing, or if some of the information we require is missing from your report, our team will need extra time to manually assess the incident and will most likely get in touch with you for further review.

 

What’s considered a claim emergency?

For your pet health insurance policy, these claims could be anything from a car accident to ingestion of a toxic food requiring immediate surgery. For emergencies, you should contact your pet care provider as soon as possible, and file a claim on the &insurance website when you’re ready.

 

What documentation do you need from me?

When it comes to claims for your pet’s health, you’ll need to send us the invoice and the receipt from your vet or clinic. If that sounds like a headache, don’t worry, your vet/clinic will know what documentation is necessary for us to help cover costs. Keep in mind that in order to participate in the payment of your pet’s care, we’ll need to have a medical exam on file from the 12 months prior to your policy period’s start date, or from the first two weeks after you sign up. We may also ask for additional information from your vet when handling a claim

Renters

Policy

  I’m moving to a new place. How do I change the address on the policy? Our Renters insurance policies cover a specific property at a specific address. If you’re moving (or already moved) to a new place and would like to keep the previous policy, do the following:

1. See if your current landlord is a partner with us
2. Ask your landlord to partner with us
3. Andi will guide you through the steps to move from your old address to your new one. The entire process should take less than a minute!

  How do I cancel my &insurance Renters policy? You can cancel your policy at any time through the andinsurance website. If you ever want to come back, we’d love to have you!

 

   

Coverage

  What does a &insurance Renters insurance policy cover? A &insurance Renters policy covers your stuff against damages caused by things like fire, vandalism, theft, and other named perils. It also protects you against liability claims for damages you accidentally cause others. And in cases where your home becomes unlivable due to certain damages, we’ll also help cover the costs of alternative living arrangements. Are roommates covered under &insurance Renters policies? Unfortunately not. Insurance only covers you, and the property you legally own. When living with roommates, we recommend asking them to get a &insurance renters policy as well.   Is my spouse covered? The short answer is yes, but we suggest adding their name to your policy. You’ll be happy to know that your renters policy automatically covers all residents of your household who are related to you by marriage, blood, or adoption. Is my significant other covered under my &insurance Renters policy? If you’re living with your significant other, we suggest adding their name to your policy. Beyond adding their name, make sure you update your personal property coverage to include the stuff they keep in your home as well.           What specific kinds of things am I covered for with a &insurance Renters policy? Your renters insurance policy covers your place against perils (aka, bad stuff like fire, windstorm, or an explosion). But it does more than that. Your policy is broken up into several types of coverage:

• Personal Property will be activated in various scenarios, like if your laptop or bike is stolen, or if a kitchen fire destroys your belongings
• Loss of Use will help with additional living expenses (like hotel bills) if your place becomes uninhabitable due to a peril like a fire, windstorm, etc.
• Liability Coverage or personal liability insurance refers to coverage in the case of bodily injury or property damage to other people (or their stuff) as a result of your actions – at your home, and anywhere else
• Medical Payments to help pay for medical bills, under $5,000 in most cases, that you incur if something happens to guests while at your place

  Am I covered if something I own gets stolen outside of my home or apartment? Yes. A &insurance renters policy covers your personal property “anywhere in the world” (that’s taken directly from our policy). If your bike gets stolen from in front of your apartment or your laptop gets stolen from your local coffee shop, you are covered up to your policy’s personal property limit. Your deductible applies, and we’ll also need you to file a police report with the officer’s name, precinct/department, and report number. Keep in mind, a stolen pet is not covered under any of our policies.       What kinds of things are not covered under a &insurance renters policy? Unfortunately, insurance doesn’t cover e-v-e-r-y annoying thing that can happen. Things like your power, water, or heat going out in the dead of winter, or a bed bug infestation, aren’t covered by renters’ policies. That means we can’t reimburse you if any of those things happen. We also don’t cover personal property that gets mistakenly lost or broken. Here’s a guide to what’s covered and what’s not under our renter’s policy.   Is my laptop covered? Yes! Your &insurance renters policy covers your personal electronic equipment up to the amount you select for Property & Valuables when signing up. Coverage for laptops, phones, tablets, TVs, and other personal electronics are all included, as standard, in the policy. Please note that this is coverage against the list of specific, named perils mentioned in the policy such as theft, fire, explosion, vandalism, etc. Be careful with that computer, because your policy doesn’t cover loss or breakage if you drop it!   If my dog bites someone, am I covered? Generally, yes, if your dog bites someone you’re covered under your renter’s policy. However, you’re not covered if your dog has a history of biting or if your dog is categorized as a high-risk breed. These breeds can be found in the ‘not covered’ section of your policy.           Do you offer earthquake coverage?   We currently offer earthquake insurance policies for our renters in California and Arkansas. We’re looking to expand this offering to other states, so stay tuned. It’s worth noting that our base policies in all states already cover direct loss caused by fire, explosion, or theft resulting from earthquakes. How can I increase or decrease &insurance Renters policy coverages? Unfortunately, we have maximum and minimum limits to all coverages. Is my self-storage locker covered under a renters policy? For personal property stored in a self-storage facility, or usually stored at a place other than your home, our policy covers you for theft up to a limit of $1,000. Note, if you’re in NY, CA, or CT, our policy covers your personal property in self-storage units for up to 10% of your Coverage C (personal property limit). Make sure to review your policy to understand the amount of coverage you have. Oh, and if your personal property is stored in the basement of your apartment building, it’s covered because it’s still at your home address.                   What is liability protection? We offer personal liability protection as part of our renter’s policies. This means Lemonade will hire a lawyer to defend you, and we’ll pay covered damages you are found liable for, in the event someone claims to be injured due to your actions or negligence, or if there’s property damage to someone else’s property caused by your actions or negligence. Make sure to read your policy. If you experience an incident that may fall under this coverage, then make a claim using our app.    

Extra Coverage

  Coverage for jewelry worth $1,500 or more Your base renter’s insurance policy covers your jewelry, but only up to a total of $1,500. So, tally up your bling, and if it collectively is worth more than $1,500, you’re going to want Extra Coverage.   What kind of items can I add? Currently, our Extra Coverage is offered for jewelry, fine art, cameras, bicycles, and musical instruments. You do not need to add Extra Coverage for your personal electronics, furniture, and clothing, as they are covered by your base renters insurance policy. (Your bike is also covered by your base policy, but Extra Coverage will give you extra perks and protections.) What happens if &insurance does not approve my item? Our team goes over each item to determine if it’s eligible for Extra Coverage. If your item is not approved, there could be a few reasons. It may be because your item is already covered by your base renter’s policy, or your item may need special coverage that is not currently offered by &insurance. In any case, your base policy will not be affected.  

Availability

  Where is &insurance Renters insurance available? Arizona, Arkansas, California, Colorado, Connecticut, District of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, Washington, and Wisconsin  

Switching

  Can I switch to &insurance if I already have a renters policy elsewhere? Sure you can! It’s actually quite easy. We’ll send your previous insurer a formal notice. Once they get it, they’ll need to cancel the remainder of your policy term and refund you for any outstanding payments. We handle thousands of switching requests every week, with people moving to &insurance from companies like Allstate, State Farm, Farmers, Liberty Mutual, Geico, USAA, Travelers, and more!

Landlords

  Can I add my landlord as an interested party? Sure! Landlords and property managers may require that you list them on your policy as an ‘interested party.’ This means they’ll be automatically notified about major changes, such as cancellations or coverage modifications.  

Claims

  How do I file a claim? Easy! Just log into your account on our website and hit the ‘File a Claim’ button. We will guide you through the rest of the short process there.   How will I get paid for a claim? After you complete the claim report on the andinsurance.com website, you will be asked to enter your bank account information. Once your claim is approved, we’ll issue payment, minus the amount of the deductible on your renters policy, directly into your account.   How fast will a claim be paid? Our goal is for the majority of simple property claims to be paid almost instantly. There will be cases in which we’ll need to fully review the incident to approve the claim, and there will be property damage claims or liability claims that may take longer to settle. If this is not the first loss you are reporting, or if some of the information we require is missing from your report, our team will need extra time to manually assess the incident and will most likely get in touch with you for further review.     Why does &insurance ask me to record a video during the claims process? There’s no better way for us to understand your incident than by having you tell us in your own words. It only takes a minute to shoot the video. We’ll use your video solely for the process of handling or reviewing your claim.   What’s considered a claim emergency? We define an emergency as an event that requires immediate assistance or temporary housing as a result of fire, ongoing water damage, or any other structural damage that leaves your home exposed. Shortly after you report an emergency, our response team will call you to assess the situation and provide you with emergency services such as water or fire damage cleanup, temporary housing, or a designated specialist as soon as possible. We have your back, 24/7. &insurance has a network of emergency response and repair partners enabling us to respond to just about any incident at just about any time. For emergencies relating to your home and property where you don’t have access to our app or website, you may call us at (844) XXX-XXX.   What documentation do you need from me? Do I need to take an inventory? When filing a claim for your property, if you have receipts—that’s great! But, we know that not everyone saves their receipts. Do try and be sure to keep your receipts for the more expensive stuff you buy—say, $250 and up. That way, we can settle your claim more quickly. Even if you don’t have the receipt, keeping note of where and when you purchased more expensive items will help us help you.     How do you calculate the value of my personal property during a claim? Our renters policies offer ‘replacement cost’ for any destroyed, damaged, or stolen items. This means we’ll calculate the value of your item based on its current, lowest, as-new market value. If the item is no longer being sold, we will look for a similar one, and use that price for reference. Here’s an example: Your camera has been stolen. You bought it three years ago for $500, and today, this exact model sells for $350. Since our job is to provide you with an exact replacement, the value we will calculate is $350.