Replacement cost (RC) will pay to rebuild your building exactly as it was before you had a loss. Actual cash value (ACV) is similar to replacement cost, except it will subtract depreciation (ACV = RC – depreciation). With both RC and ACV, a building limit will appear on your policy and your insurance company will not pay more than that limit to rebuild your building. You and your agent work together before the policy is issued to determine the limit. Full building coverage is a little different. With full building coverage, there is no building limit—we will pay to have your building rebuilt exactly as it was before the loss, no matter the price.