1. Removing depreciation deduction (OPCF 43) As soon as you drive a new car off the lot, it starts depreciating in value. Generally, if your car is damaged beyond repair, a depreciation deduction endorsement will ensure you’re reimbursed for the full purchase price, not the depreciated value. Saying no to this endorsement can leave you without enough money to buy a new vehicle should the need arise. This endorsement makes the most sense for brand new cars where the full value is still quite high. A waiver of depreciation usually lasts from between 24 and 48 months. Unfortunately, the expense to carry this endorsement will increase as the car gets older.