How Does Depreciation Affect My Property Damage Claim?

Ever wonder why your property damage claim might not cover the full replacement cost? Understanding depreciation is key to navigating your insurance settlement effectively. This video breaks down how depreciation works and its impact on what you receive. In this guide, you will learn: ► What depreciation is and how it's calculated in insurance claims. ► The difference between Actual Cash Value (ACV) and Replacement Cost Value (RCV) policies. ► How depreciation can significantly reduce your property damage payout. ► Strategies to potentially mitigate the impact of depreciation on your claim. #DepreciationExplained, #InsuranceClaimTips, #PropertyDamage, #InsuranceGuide360