4J Staff Personal Property Loss or Damage
— Deductibles & Determining Value

How Value Is Determined for Replacing Stolen or Damaged Property

Replacement value is based on whether the stolen or damaged item was used or purchased new at the time it was first brought in for instructional purposes. Coverage is not provided to replace items whose "product life" is over due to normal wear and tear.

Replacement Value:

If the item was new, you will receive an amount for the replacement value which is the cost of replacing the item with a new one of comparable material and quality.

Cash Value:

If the item was used, you will receive actual cash value which is the cost of replacing the item with a new one, after deducting an amount for reasonable depreciation.

School Deductibles That Apply for Damaged or Stolen Property

All incidents have a school/department deductible of $250.00

The school/department deductible applies to each incident of theft or damage, regardless of the number of items involved in the claim.