Waiver of Depreciation

An endorsement (common on new or leased cars) that pays the full replacement or purchase price on a total loss without subtracting depreciation for the first few years.

This is a friendly general explanation, not legal or policy language. Exact coverage depends on your policy, carrier, and state. 🤝

Written and reviewed by the We Insure Things team — licensed independent insurance agents. Last reviewed July 23, 2026. Questions? Ask a licensed agent.