W.E.Davis Insurance Agency

:: RESOURCES

How Long Do Things Last?

Most homeowner policies cover contents for their full Replacement Cost, however if you elect not to replace an item, it will be settled for its Actual Cash Value (ACV). ACV means Replacement Cost less Depreciation. Would you like to know how much an item will be depreciated if you elect cash instead of replacement?

The items below were listed in The Columbus Dispatch regarding life expectancy of household items. The list might help you estimate what the depreciation might be. For example, if you have a 5 year old dishwasher with a life expectancy of 10 years and it is destroyed by fire, the insurance company will pay to replace the dishwasher at current replacement cost. However, if you elect not to replace the dishwasher and want cash instead, the company will pay its Actual Cash Value (ACV). ACV means replacement cost less depreciation. Let’s say it would cost $500 to replace the dishwasher.

In this example, the $500 cost to replace the dishwasher would be depreciated by 50%. (It is 5 years old and therefore has used half of its expected 10 year life.) The company would offer $250 as a cash settlement.

ITEM LIFE EXPECTANCY

Air Conditioners

Whole House 10-15 years
Window 8-15 years

Appliances

Dishwasher 10 years
Dryer 10-12 years
Microwave 10 years
Freezer 15+ years
Refrigerator 15+ years
Stove 17-20 years
Washer 10-12 years

Coatings on wood floors

Polyurethane 3-5 years
Shellac 3-5 years
Varnish 3-5 years

Coatings on interior
doors and trim

Polyurethane 15-30 years
Shellac 8-10 years
Varnish 15-30 years

Carbon monoxide detector 5-10 years

Carpeting 10-15 years

Chimney 15-20 years

Chimney flue life of house

Concrete steps 30+ years

Deck

Wood 15-20 years
Plastic 30+ years

Driveways
Concrete 20-30 years
Asphalt 10-15 years
Gravel 10-15 years
Adding gravel every 5 yrs

Exterior walls
Aluminum siding 20-30 years
Asbestos shingles 15-30 years
Asphalt siding 20-40 years
Brick 100+ years
Cedar siding 40-75 years
Hardboard siding 10-25 years
Redwood siding 40-100 years
Stone 100+ years
Stucco 30 years
Vinyl siding 30 years

Faucets 10-15 years

Fences
Plastic 50 years
Stone 100 years
Wood 5-30 years
Wrought iron 50-100 years

Fire extinguisher 12 years

Flooring

Cork 50+ years
Ceramic tile 50-100 years
Vinyl 5-25 years
Wood 50+ years

Furnace 15-30 years

Garage-door opener 10-20 years

Garbage disposal 10 years

Grout 10-15 years

If sealed

Gutters

Aluminum 20 years
Galvanized steel 60-70 years
Copper 60-70 years

Hot tub 15-20 years

Light fixtures

In-ceiling fixtures 7-25 years
Motion lights 1 year

Paint

Latex
High Quality 15-20 years
Med Quality 7-10 years
Low Quality 3-5 years
Oil 15-20

Plumbing

Copper 50 years
Plastic 25+ years
Lead 40 years
Galvanized steel 15 years (Water)
50 years (gas)
Cast iron Life of house

Roof

Asbestos cement

shingles 30-75 years

Asphalt shingles 15-20 years

Asphalt interlocking

shingles 15-25 years

Asphalt rolls 10 years

Clay tiles 20 years

Cement tiles 20 years

Metal roofing 15-40 years

Slate shingles 30-100 years

Wood shingles 10-40 years

Sewer Line

Cast iron 70-90 years
Plastic 25 years
Ceramic 40-50 years

Sink

Kitchen 50 years
Bathroom 35-50 years

Smoke detector 10 years

Toilet 35-50 years

Tub

Cast iron 50 years
Acrylic 20 years
Fiberglass 20 years

Vent fan 15-20 years

Walkways

Brick 25-100 years
Concrete 30-35 years
Stone Indefinitely

Wallpaper 10-20 years

Water heater 8-12 years

Waterlines, exterior

Galvanized steel 25-40 years

Plastic 20 years

Copper 40-50+ years

Whirlpool tub 20 years

Windows

Aluminum-clad 30 years
Vinyl 30 years
Vinyl-clad 35-40 years
Wood 25-30 years

Wiring

Switches 10-25 years
Outlets 15-20 years
Electric service box 20-30 years

The estimated longevity of items in this list is based on the assumption of proper maintenance. Figures were gathered from a variety of associations, retailers, manufactures and repair services.

List reprinted from The Columbus Dispatch article Life Expectancy on 4/30/2000.