Chip Merlin | Property Insurance Coverage Law | December 2, 2016 Depreciation tables were first introduced to me when studying accounting at the University of Florida. The tables were based on tax schedules and other accounting methods which usually had nothing to do with the actual depreciation of an item. Indeed, if you used tax depreciation… Continue reading Calculating Depreciation: Are Generic Tables Reliable or Based on Any Scientific Study?
Tag: Depreciation
Determining Depreciation: The Definition of Actual Cash Value Varies Widely Between States
Chip Merlin | Property Insurance Coverage Law Blog | November 22, 2016 In yesterday’s post, Determining Depreciation–Are Policyholders Getting Ripped Off, I promised to discuss issues of actual cash value and depreciation. The article I am critiquing giving rise to this discussion cited California law regarding actual cash value and then made this statement: In… Continue reading Determining Depreciation: The Definition of Actual Cash Value Varies Widely Between States
Determining Depreciation–Are Policyholders Getting Ripped Off?
Chip Merlin | Property Insurance Coverage Law Blog | November 21. 2016 Many property insurance company adjusters are required by their companies to determine the amount of depreciation to be taken when arriving at amounts of actual cash value. Many are told to determine this amount by determining the replacement cost and then subtracting depreciation.… Continue reading Determining Depreciation–Are Policyholders Getting Ripped Off?
Depreciation of Property to Determine Actual Cash Value is Different in California
Kevin Pollack | Property Insurance Coverage Law Blog | April 26, 2016 In a key win for policyholders in California, a California state court trial judge recently found that insurers must consider the actual condition of personal property at the time of a loss when determining the property’s actual cash value. The case arose from… Continue reading Depreciation of Property to Determine Actual Cash Value is Different in California
Depreciation of Labor When Calculating Actual Cash Value: The Great Divide
Whether labor costs can be depreciated when determining the actual cash value of a covered loss is an issue that comes up frequently for policyholders and those who represent them. I recently researched the issue and was surprised to find the paucity of case decisions across the country that touch on the subject. I know… Continue reading Depreciation of Labor When Calculating Actual Cash Value: The Great Divide