Lamar Insurance
51 Middletown Rd., Suite 101
White Hall, West Virginia 26554
(Beside Middletown Home Sales)
Phone: (304) 368-1323
Fax: (304) 368-1324
mlamarinsurance@msn.com
Depreciation
Depreciation (Glossary Word)
Diminishment in property value due to age and wear. This value discounting is taken into account when adjusting for property insurance that covers loss an actual cash value basis. That is, Actual Cash Value equals Replacement cost minus depreciation.
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