What Is Depreciation in Insurance Claims? | GetJerry.com
Jan 19, 2021 · It’s the depreciated value of an item, in other words. Other policies are based on replacement cost, though. For these insurance policies, you’re entitled to the cost to either restore the item to its like-new condition or the cost to replace what you have lost. Typically, you need to purchase the item and request reimbursement.
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