Common use of Depreciation Rules Clause in Contracts

Depreciation Rules. Possessions are valued at that which it costs to buy new equivalent possessions minus age as shown below. These tables are not applied if the condition of the possessions can be verified in another way. When replacing factory-fitted sound and image equipment, compensation is paid without making a deduction for age.

Depreciation Rules. Possessions are valued at that which it costs to buy new equivalent possessions minus age as shown below. These tables are not applied if the condition of the possessions can be verified in another way. When replacing factory-fitted sound and image equipment, compensation is paid without making a deduction for age.. Coverage only applies to this section for theft and fire related damages