What is the threshold for Laptop replacement?

My Lenovo Y50 was just sent in by BestBuy's geeksquad for repairs. The repair is the headphone jack, which was almost completely destroyed and does not work at all anymore, but the rest of it is pristine. The geek told me that if Lenovo deems my laptop beyond their repair (he said on higher end laptops they tend to do this more often) they will issue me the 1437 dollars I paid for it in store credit a per my warranty and insurance plan.

I want to know how likely it is that my laptop will simply be written off my Lenovo as irreperable. If so, I can get a replacement laptop ACTUALLY worth 1400 dollars.

Well its hard to say. But from past experience usually with a headphone jack they tend to just repair it since it isn't exactly a major issue. But again your laptop may prove to be maybe more difficult to repair or what not. But they will probably just repair it