ACORD 68 CA (2001/03) – California Scheduled Personal Property – Loss Computation Disclosure
Use this form with all applications for scheduled personal property, to comply with section 381.2 of California insurance law, which requires that all applicants for scheduled personal property insurance must be provided with a written disclosure of the method to be used in the computation of the amount of a loss. If such disclosure is not provided, then in the event of a total loss, the amount of loss is the amount of insurance placed on the property subject to the loss. In the event of a partial loss, the amount of insurance shall be the basis for loss computation.
This form states that, unless another loss computation method is described on the form, the policy will pay on the basis of actual cash value, with allowance for depreciation. If the policy is written on a different basis, space is provided to describe the particular loss computation.