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Glossary

Removing Depreciation Deduction

If you buy or lease a new car and it is stolen (and not recovered) or written off in an accident within the first two years, we will replace your vehicle. (Also known as "Endorsement 43")

Renewal

The extension of your existing policy for another policy term.

Replacement Cost – Property

Insurance that lets you replace a damaged item with a new, comparable item without deducting depreciation.

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