Our carrier has no option for not taking the depreciation waiver. With the teacher's group, it's a "bonus" and is, are you sitting down, 48 months.
Given that we pay $609 a year for $250dd all perils on the Corolla, I don't think they're all that far off when they say they've pretty much included it at no extra charge.
The policy is clear it's not a replacement value coverage, but a depreciation waiver, meaning we get back the purchase price. It is also clear it includes the price, the PDI/etc, and all taxes. This is easy for us to recall, as we paid exactly $20K all-in.
