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YEAR 1
% In case of a claim, insurance companies apply the depreciation rate to arrive at the amount payable for a specific damaged part
YEAR 2 YEAR 3
DEPRECIATION is the rate at which the value of your vehicle parts reduce as the vehicle ages
The difference
between the
depreciated value
and the market cost
of buying a new
part is borne by the
insured.
DEPRECIATION SHIELD covers the Depreciation Amount on the Damaged Parts that are allowed for Replacements
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