Call Us Today 1-940-683-4008

Depreciation

Combined Single Limit
June 7, 2017
Gap Insurance
June 7, 2017
« Back to Glossary Index

A decrease in a property’s value over time due to wear-and-tear or obsolescence. Depreciation is used to determine actual cash value at the time of a loss. (See ACTUAL CASH VALUE.)

« Back to Glossary Index