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Back to FAQ.
If there is damage to my home or contents, will that be settled on a depreciated or a non-depreciated basis?
You will need to have your agent or broker explain this to you. Most building settlements are on a non-depreciated basis, and many policies settle contents on the same basis. Such a settlement on contents normally requires that you actually replace. Should you choose to settle on a cash basis, the settlement reverts to a depreciated one.
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