Ah! Insurance.
So I was writing a check to renew policy, when I thought I would read through the pages. I got to one section and said, wait a minute. Quote from page:
"We" will pay the reasonable costs of repairs or replacements, in accordance with quality marine repair practice, less depreciation. Depreciation shall be calculated at 10% for each year beginning with the 20th year from manufacture. In all cases, there shall remain no less than 20% residual value regardless of age. Huh?
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