In a commercial property policy with a replacement cost endorsement, which of the following is valued on a replacement cost basis?

In a commercial property policy with a replacement cost endorsement, it is important to understand what is actually covered and under what valuation method. A replacement cost endorsement generally means that covered property is insured for the cost to replace it with a similar new item without deducting for depreciation.

In this scenario, the option identified as "None" is the correct selection because certain types of property like statues, personal property of others, or residential contents may have specific coverage limitations or may not be covered on a replacement cost basis under a standard commercial property policy. Statues, for instance, may have unique appraisal challenges and may not be covered at their replacement cost unless specifically endorsed. Similarly, personal property of others is often covered on an actual cash value basis rather than replacement cost, reflecting depreciation. The contents of a residence are typically excluded from coverage provided by a commercial property policy altogether.

Therefore, since no item on the list is guaranteed to be covered at replacement cost under a commercial property policy with a replacement cost endorsement, "None" accurately reflects which items are valued on a replacement cost basis under the policy conditions provided in your question.