Depreciation

The repayment value for indemnification due to loss or damage of property; in most cases it is replacement cost minus depreciation.

The cost to replace damaged or destroyed property with new property of similar kind and quality, without deduction for depreciation.

Insurance coverage that protects your home and personal property against damage, theft, and liability claims.

Insurance coverage for tenants that protects personal property and provides liability coverage, but does not cover the building structure.

Specialized insurance coverage for valuable jewelry, watches, and gemstones that provides protection against loss, theft, damage, and mysterious disappearance. Often purchased as a scheduled personal property endorsement to homeowners or renters insurance.

An assessment of a property's value by an independent professional, often required for insurance purposes to determine appropriate coverage limits or claim settlements.