Land doesn't cease to exist, and it's not depreciated or covered by property insurance because of its indestructibility.
Land does not cease to exist as its property of indestructibility. This permanent condition of land is coupled with improvements that are in long term and which tend to stabilize real estate in the field of investment.
Although the fact that the land is indestructible will not change the fact that the improvements taking place on land depreciate and can become obsolete in conditions that may result in the dramatical reduction of the value of the land. Because of the reason that land is indestructible, it cannot be converted to depreciated state and it is not sure insurable.
In general, the land is an indestructible factor in the case of production. Man is supposed to only change the shape of a particular locality as well as the composition included in its elements, as such the land cannot be destroyed. The only option is it can either be converted into a garden or a forest region or into an artificial type of lake. It is not covered or depreciated by property insurance.
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