I often hear the same complaint from clients: They feel the insurance company has undervalued their personal property after a loss and are frustrated by the insurance company’s valuation and rate of depreciation. The reality is that even when an insured has a “replacement cost” policy, the insurance company can depreciate personal property values because the majority of insurance policies contain language allowing insurers to depreciate the value and first pay out the “actual cost value,” which includes depreciation. View Full Post