{"id":56094,"date":"2025-11-15T19:09:35","date_gmt":"2025-11-15T11:09:35","guid":{"rendered":"https:\/\/bjak.my\/blog\/?p=56094"},"modified":"2025-11-15T19:09:37","modified_gmt":"2025-11-15T11:09:37","slug":"vehicle-depreciation-its-impact-on-insurance-claims","status":"publish","type":"post","link":"https:\/\/bjak.my\/blog\/car-insurance\/vehicle-depreciation-its-impact-on-insurance-claims","title":{"rendered":"Vehicle Depreciation &#038; Its Impact on Insurance Claims"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_50 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Contents =<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\" role=\"button\"><label for=\"item-6a0cf29497ca2\" aria-hidden=\"true\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999999;color:#999999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999999;color:#999999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-6a0cf29497ca2\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/bjak.my\/blog\/car-insurance\/vehicle-depreciation-its-impact-on-insurance-claims\/#Introduction\" title=\"Introduction\">Introduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/bjak.my\/blog\/car-insurance\/vehicle-depreciation-its-impact-on-insurance-claims\/#1_What_Is_Vehicle_Depreciation\" title=\"1. What Is Vehicle Depreciation\">1. What Is Vehicle Depreciation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/bjak.my\/blog\/car-insurance\/vehicle-depreciation-its-impact-on-insurance-claims\/#2_Impact_of_Depreciation_on_Insurance_Claims\" title=\"2. Impact of Depreciation on Insurance Claims\">2. Impact of Depreciation on Insurance Claims<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/bjak.my\/blog\/car-insurance\/vehicle-depreciation-its-impact-on-insurance-claims\/#3_Tips_to_Avoid_Loss_from_Depreciation\" title=\"3. Tips to Avoid Loss from Depreciation\">3. Tips to Avoid Loss from Depreciation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/bjak.my\/blog\/car-insurance\/vehicle-depreciation-its-impact-on-insurance-claims\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Introduction\"><\/span><strong>Introduction<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Every vehicle experiences <strong>depreciation over time<\/strong> \u2014 the longer it\u2019s used, the lower its value. This affects not only resale price but also the <strong>amount you can claim on insurance<\/strong>.Many car owners don\u2019t realize that <strong>current market value<\/strong> is used as the basis for insurance claims. This article explains how vehicle depreciation impacts insurance and provides tips to protect your car\u2019s value.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"1_What_Is_Vehicle_Depreciation\"><\/span><strong>1. What Is Vehicle Depreciation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Depreciation is the <strong>drop in a vehicle\u2019s value<\/strong> due to age, usage, and external factors.<br><\/li><li>New cars usually experience <strong>the highest depreciation within the first 2\u20133 years<\/strong>.<br><\/li><li>Factors like mileage, car condition, and accident history affect the depreciation rate.<br><\/li><\/ul>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"2_Impact_of_Depreciation_on_Insurance_Claims\"><\/span><strong>2. Impact of Depreciation on Insurance Claims<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li><strong>Market Value:<\/strong> Insurers pay based on the current market value, not the original purchase price.<br><\/li><li><strong>Total Loss \/ Written-Off:<\/strong> Depreciation can reduce the compensation amount.<br><\/li><li><strong>NCD:<\/strong> Large claims can affect your No-Claim Discount, and depreciation increases the risk of net loss.<br><\/li><li><strong>Add-on Coverage:<\/strong> Some add-ons, such as Agreed Value, help protect against depreciation losses.<br><\/li><\/ul>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"3_Tips_to_Avoid_Loss_from_Depreciation\"><\/span><strong>3. Tips to Avoid Loss from Depreciation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ol><li>Consider <strong>Agreed Value coverage<\/strong> if your car is older or has a high value.<br><\/li><li><strong>Keep complete maintenance records<\/strong> to improve your car\u2019s value during a claim.<br><\/li><li><strong>Compare market value before renewal<\/strong> \u2014 ensure your insurance aligns with your car\u2019s current price.<br><\/li><li><strong>Claim promptly<\/strong> after an accident to prevent further loss in car value.<br><\/li><\/ol>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-attachment-id=\"56156\" data-permalink=\"https:\/\/bjak.my\/blog\/car-insurance\/vehicle-depreciation-its-impact-on-insurance-claims\/attachment\/4-104-2\" data-orig-file=\"https:\/\/i2.wp.com\/bjak.my\/blog\/wp-content\/uploads\/2025\/11\/4-104.jpg?fit=1600%2C1012&amp;ssl=1\" data-orig-size=\"1600,1012\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"4-104\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i2.wp.com\/bjak.my\/blog\/wp-content\/uploads\/2025\/11\/4-104.jpg?fit=300%2C190&amp;ssl=1\" data-large-file=\"https:\/\/i2.wp.com\/bjak.my\/blog\/wp-content\/uploads\/2025\/11\/4-104.jpg?fit=1080%2C683&amp;ssl=1\" loading=\"lazy\" width=\"1080\" height=\"683\" src=\"https:\/\/i2.wp.com\/bjak.my\/blog\/wp-content\/uploads\/2025\/11\/4-104.jpg?resize=1080%2C683&#038;ssl=1\" alt=\"Infographic showing how vehicle depreciation affects insurance claim amounts, including market value, total loss, and add-on coverage.\n\" class=\"wp-image-56156\" srcset=\"https:\/\/i2.wp.com\/bjak.my\/blog\/wp-content\/uploads\/2025\/11\/4-104.jpg?resize=1080%2C683&amp;ssl=1 1080w, https:\/\/i2.wp.com\/bjak.my\/blog\/wp-content\/uploads\/2025\/11\/4-104.jpg?resize=300%2C190&amp;ssl=1 300w, https:\/\/i2.wp.com\/bjak.my\/blog\/wp-content\/uploads\/2025\/11\/4-104.jpg?resize=768%2C486&amp;ssl=1 768w, https:\/\/i2.wp.com\/bjak.my\/blog\/wp-content\/uploads\/2025\/11\/4-104.jpg?resize=1536%2C971&amp;ssl=1 1536w, https:\/\/i2.wp.com\/bjak.my\/blog\/wp-content\/uploads\/2025\/11\/4-104.jpg?w=1600&amp;ssl=1 1600w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" data-recalc-dims=\"1\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Vehicle depreciation is a crucial factor that affects your insurance claim amount. By understanding current market value and using strategies such as <strong>Agreed Value coverage<\/strong>, car owners can protect themselves from losses during a claim. Always check your car\u2019s value before renewing insurance and ensure documentation is complete for a smoother claims process.<\/p>\n\n\n\n<div class=\"wp-container-1 wp-block-buttons\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-nv-dark-bg-color has-text-color has-background\" href=\"https:\/\/bjak.my\/ms?utm_source=blog&amp;utm_medium=ad&amp;utm_campaign=vehicle-depreciation--its-impact-on-insurance-claims\" style=\"background-color:#ffd103\">Get Your Free Quotation<\/a><\/div>\n<\/div>\n\n\n\n<p>Read More:<\/p>\n\n\n\n<p><a href=\"https:\/\/bjak.my\/blog\/car-insurance\/most-common-car-insurance-scams-in-malaysia\"><a href=\"https:\/\/bjak.my\/blog\/car-insurance\/how-to-transfer-ncd-to-a-new-car\">How to Transfer NCD to a New Car<\/a><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/bjak.my\/blog\/car-insurance\/how-to-save-on-car-insurance-as-a-zero-accident-driver\"><a href=\"https:\/\/bjak.my\/blog\/car-insurance\/accident-claims-without-police-report\">Accident Claims Without Police Report<\/a><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/bjak.my\/blog\/car-insurance\/risks-of-driving-without-insurance-or-valid-roadtax\"><a href=\"https:\/\/bjak.my\/blog\/car-insurance\/insurance-for-gig-economy-drivers\">Insurance for Gig Economy Drivers<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Vehicle depreciation can affect your insurance claim amount. This article explains how a car\u2019s value decreases over time and tips to avoid losses when making a claim.<\/p>\n","protected":false},"author":31,"featured_media":56155,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","spay_email":""},"categories":[431],"tags":[429,3131],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vehicle Depreciation &amp; Its Impact on Insurance Claims | BJAK<\/title>\n<meta name=\"description\" content=\"BJAK | Car Insurance | Read about: Vehicle Depreciation &amp; Its Impact on Insurance Claims . 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