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Depreciation on Unspecified Tools

When tools are insured as a group rather than listed one by one, insurers often apply depreciation for their age and use. The amount of depreciation, and the maximum cap applied, varies between insurers. Keep your receipts and records, as this speeds up claim assessment.

Related Term

All Category

When tools are insured as a group rather than listed one by one, insurers often apply depreciation for their age and use. The amount of depreciation, and the maximum cap applied, varies between insurers. Keep your receipts and records, as this speeds up claim assessment.

Related Term

All Category

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