A provision allows settlement of losses to outbuildings to be on a replacement cost basis in lieu of actual cash value under the current policy.

Your building and contents will be written on a replacement cost basis which would replace items lost with payment equal to today's purchase price of thoseitems, with no deduction for depreciation.

Replacement cost basis is a method of valuing insured property in which the cost of replacing property iscalculated without a reduction for depreciation.