Does the UA have replacement cost coverage for property losses?
Losses involving real property (buildings, land, permanent fixtures) are covered for the actual cost of repair or replacement. Losses involving other property (computers, lab equipment, vehicles, etc.) are covered at actual cash value. Actual cash value or ACV is based on current replacement value less depreciation depending on the age and expected useful life of the item of property. Adjusters rely on a scale that assigns varying expected useful life values to different types of property.
