What is Depreciation?
Definition. The reduction an adjuster applies to replacement cost to account for age, wear and remaining life. On a roof, it is usually based on the age of the shingles compared with their expected life. Depreciation is subtracted to arrive at actual cash value.
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What is the difference between ACV and RCV on a roof claim?Actual cash value vs replacement cost value on a Georgia roof claim, with a labeled example showing depreciatiHow do you get recoverable depreciation released on a roof claim?How a roof claim's depreciation holdback is released: final invoice, proof of completion, policy time limits l
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More claim terms
Umpire · Desk adjuster · Line item · Dwelling coverage (Coverage A) · Deductible · Hail bruise · Other structures (Coverage B) · Bad faith