How depriciation relates with claim settlement?

1. 

   vineet
   

   new member
   Joined: Jun '09
   Posts: 4

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   I purchased a car on 16th may 2007 for Rs 700000, how much settlement I will get from insurance Company ?

   Posted 2 years ago #
2. 

   Pooja
   

   member
   Joined: Jun '09
   Posts: 24

   Reputation:24

    

   The value of your automobile (in most cases) decreases over time because of the wear and tear of driving. So, naturally, the amount of money the insurance company will pay you if your car is totaled in an accident will generally be less as it gets older and has racked up a lot of miles.

   Posted 2 years ago #

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