Depreciation Guide (Personal Property)

The 2023 Claims Pages Depreciation Guide is a vital tool for insurance professionals, providing detailed depreciation rates and expected lifespans for a wide range of personal property and building materials. This guide facilitates the accurate determination of actual cash value for various items, crucial for efficient claim processing.

• Comprehensive Coverage: Includes categories like appliances, electronics, furniture, HVAC, kitchen equipment, and more, offering a broad spectrum of items commonly encountered in claims.
• Depreciation Rates & Lifespans: Each item listed comes with an annual depreciation rate and expected years of service, providing a basis for calculating current value.
• Versatile Application: Utilized by hundreds of insurance companies annually, supporting adjusters, appraisers, and legal professionals in determining loss values.
• Expert Sources: Compiled using data from manufacturers, repairers, builders, home inspector associations, and insurers to ensure accuracy and reliability.

This guide is designed to be used as a general reference, acknowledging that item conditions, market changes, and technological advancements can affect actual depreciation rates. It advises that items still functional for their intended purpose should not be depreciated beyond 90% of their original value.