Berea Office
302 Richmond Rd. PO Box 428
Berea, Kentucky 40403
Phone: (859) 986-1056
Richmond Office
1060 Center Dr. PO Box 743
Richmond, Kentucky 40475
Phone: (859) 626-5252
Diminishment in property value due to age and wear. This value discounting is taken into account when adjusting for property insurance that covers loss an actual cash value basis. That is, Actual Cash Value equals Replacement cost minus depreciation.
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