An expense item set up to express the diminishing life expectancy and value of any equipment (including vehicles). Depreciation is set up over a fixed period of time based on current tax regulation.

Over the depreciation process, the double depreciation rate remains constant and is applied to the reducing book value each depreciation period. The book value, or depreciation base, of an asset ...

Diminished value is the difference in a vehicle’s worth before an accident versus after repairs are completed. A diminished value claim is a request to an insurer to receive compensation for ...

This depreciation, often tied to rapid ... they do not mitigate the accelerated loss in value, leaving owners with diminished long-term savings. Insurance premiums have also become a factor ...