DeFranco-Merrill Insurance, Inc. 5215 Wilson Avenue S.,Seattle, Washington 98118
Phone: (206) 723-1680
Toll Free: (866) 723-1680
Fax: (206) 725-3416

Glossary

 
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Depreciation
Diminishment in property value due to age and wear. This value discounting is taken into account when adjusting for property insurance that covers loss an actual cash value basis. That is, Actual Cash Value equals Replacement cost minus depreciation.
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