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Depreciation: All You Need to Know

Updated: Mar 31

Before we delve into the topic of roof depreciation, replacement costs, and all her sisters, let’s get a better understanding of what these terms even mean.

Aging is an inevitable aspect of nature; everything from trees to devices and appliances, furniture, clothes, and even your roof all tend to deteriorate as time goes by. Wears and tears are just one of life’s beauties, and its consequent result is the reduction in the value of some owned properties. This reduction goes by the term ‘depreciation.’

When it comes to your home features, particularly your roof and all its related insurance claims, here are some terms you should probably familiarize yourself with:

Depreciation – As already mentioned, depreciation is the inevitable loss or reduction of the value of an owned property due to natural or artificial factors like aging, usage rights, perishability, natura