Depreciation

The decrease in the value of an item due to age, use or wear and tear. Such devaluation is not covered under a contract of indemnity. However an insurer may agree to provide cover on “a new for old” basis which represents a modification of the principle of indemnity and avoids the need to determine rates and amounts of deprecation when settling claims

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Items in the garden could be under threat as we hit summer months
21st Mar 2012

Items in the garden could be under threat as we hit summer months Each year it is warned by home insurers that items in the garden need to be secured especially in the summer months....

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Woodstock Insurance Brokers is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk

Woodstock Insurance Brokers company number 04288957 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.