The phrase "depreciated value" refers to the reduced or decreased worth or price of something over time. It means that the value of an item or asset has gone down from its original or initial value. Full definition
The companies alleged Freshii used the trademark in a way that is «likely to have the effect of depreciating the value of the goodwill» attached to the word. (canadianbusiness.com)
There is a critical difference if your policy is written for depreciated value instead of replacement value. (insuranceproviders.com)
Because replacement cost value policies tend to pay out more (since they aren't based on depreciated value), they also tend to cost more than actual cash value policies. (policygenius.com)