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Date Posted: Fri, Nov 22 2002,12:32pm
Author: Maria Aponte
Subject: Roof depreciation

To whom may it concerns:

I will like to know how or when does a roof depreciates in value. Recently in Austin, Texas we had a hail storm. Two roofing companies came and stated that their were damages to our roof, but our insurance company (State Farm) is deducting $900 of depreciation from the acutal cost of replacing the shingles or whatever needs to be fixed. Basically after their calculations we are the ones ending up paying for the roof. I will like to know more about this "depreciation". I understand what depreciation means, but I will like to know more. Especially from an Insurance agency point of view.'

Thanks,
Maria

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