What type of insurance policy provides coverage for both replacement cost and actual cash value?

The special form policy is the correct choice because it is uniquely designed to provide coverage for both replacement cost and actual cash value. In general, this type of policy covers a wide range of perils and offers flexibility regarding how losses are valued. The replacement cost aspect allows for the reimbursement of the actual costs needed to replace an asset without accounting for depreciation, which is beneficial in maintaining the value of the insured items.

On the other hand, the actual cash value typically refers to the valuation method that takes into account depreciation, ensuring that the payout reflects the current value of the asset rather than its replacement cost. This dual capability is what sets the special form policy apart, as it can adapt to various situations and provide options depending on the specific needs and circumstances of the policyholder.

While comprehensive, broad form, and all-risk policies may cover various types of losses, they do not inherently combine the aspects of both replacement cost and actual cash value in the same manner as special form policies.