Posted: Thu May 10, 2012 08:11 am Post Subject: non recoverable depreciation
Non recoverable depreciation are the costs for which your insurance policy won't pay.
Those insurers who offer to pay the Actual Cash Value for a stolen or damaged property, don't pay for the depreciation costs.
The standard Replacement cost policies usually pay the replacement costs minus depreciation to the insured. If the item is replaced within a specified amount of time (depends on respective policy), the policy holder can recover the depreciated amount.
Posted: Thu May 10, 2012 08:11 am Post Subject: non recoverable depreciation
Non recoverable depreciation are the costs for which your insurance policy won't pay.
Those insurers who offer to pay the Actual Cash Value for a stolen or damaged property, don't pay for the depreciation costs.
The standard Replacement cost policies usually pay the replacement costs minus depreciation to the insured. If the item is replaced within a specified amount of time (depends on respective policy), the policy holder can recover the depreciated amount.
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