What Is Depreciation And How Does It Relate To Claims Payments?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jul 16, 2021

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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.

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