Home > Uncategorized > Depreciation

Depreciation

 Depreciation

 

This week on “Let’s Talk Insurance” the topic was on depreciation and what it means when it comes to your home & your stuff. It’s important to make sure that you have Replacement Cost coverage for your personal property since it is an optional endorsement.

Matt shared the Wikipedia definitions of Depreciation, Actual Cash Value, & Replacement Value for comparison. He also shared THIS WEBSITE that contains a depreciation calculator in case you wanted to find out what the Actual Cash Value of your stuff is (remembering the example given was 5% a year for depreciation). And conversely, HERE IS a calculator for depreciating items such as household appliances.

If you’re in the state of Michigan or Illinois, give us a call at (800) 968-1497 and we would be happy to get you a quote!

Until next time!

  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: