By default, on what basis is personal property (Coverage C) settled under any of the ISO Dwelling Property forms?
a.Actual cash value (ACV)
b.Market value at the time of loss
c.Replacement cost without depreciation
d.Agreed value
Explanation
Personal property under all DP forms is settled at actual cash value (ACV), which is replacement cost minus depreciation. A Personal Property Replacement Cost Endorsement is available and changes the Coverage C settlement to replacement cost. Agreed value applies to certain commercial property contracts, not to standard dwelling personal property.
Law Reference: ISO Dwelling Property forms — Coverage C valuationThis topic, taught in full in the California Property & Casualty Broker-Agent guide. California Property & Casualty Broker-Agent Study Guide — 2026 Edition — PDF + EPUB, $24.99 · 14-day refund →
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