Depreciation

Insurance companies often pay out the actual cash value (ACV) of property that is insured under them. This means that if you had insured your property, you are likely to get the actual cash value of the property at the time of the loss. This, however, does not factor in depreciation which is the gradual loss of value over time due to normal wear and tear. If your policy includes replacement cost coverage, you might be able to claim for additional compensation to cover the loss in depreciation. If you think that you are eligible for depreciation compensation, reach out to Capital Adjusting Services. We are able to quickly assess your policy and help you get the rightful compensation that you deserve.