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Insurance companies know that autos decrease in value with age usually. The value of a particular car is published for car dealers and insurance companies. This is called the book value and if the damages exceed this value in an accident, the insurance company will only pay the book value. When this happens, the car is said to be _________ by the insurance company.

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Insurance companies know that autos decrease in value with age usually. The value of a particular car is published for car dealers and insurance companies. This is called the book value and if the damages exceed this value in an accident, the insurance company will only pay the book value. When this happens, the car is said to be _________ by the insurance company.






 
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