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depreciation insurance

noun
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Definition of depreciation insurance

: insurance that is added to a fire insurance policy by endorsement and that covers the difference between the actual cash value and the replacement cost of the insured property

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“Depreciation insurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/depreciation%20insurance. Accessed 12 Jun. 2021.

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