Insurance Depreciation: What is Depreciation in Insurance and Calculator

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After 1 year	your car's value decreases to 81% of the initial value
After 2 years	your car's value decreases to 69% of the initial value
After 3 years	your car's value decreases to 58% of the initial value
After 4 years	your car's value decreases to 49% of the initial value
After 5 years	your car's value decreases to 40% of the initial value

On Rubber, Nylon, Plastic Parts and Batteries	50% Depreciation is deducted
On Fiberglass components	30% Depreciation is deducted
On Wooden parts	Depreciation is deducted as per the age of the car
On parts made of glass	NIL

Depreciation in Insurance

What is Depreciation in Insurance?

How fast does your car value decrease?

How is Depreciation Calculated in Insurance?

Depreciation Deductions

Explain it like I'm five

FAQs about Depreciation in Insurance

✓ How is depreciation calculated for mobiles?

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