Chip Merlin | Property Insurance Coverage Law Blog | April 16, 2019 In an opinion issued yesterday, the Tennessee Supreme Court held that labor cannot be depreciated when considering actual cash value.1 Merlin Law Group participated in this victory for policyholders by writing an amicus curiae brief on behalf of United Policyholders. The court’s conclusion and rationale for it is straight forward:… Continue reading Can Labor Be Depreciated When Considering Actual Cash Value?
Tag: Actual Cash Value
Applying Depreciation in California – Understanding the Guidelines
Victor Jacobeills | Property Insurance Coverage Law Blog | March 26, 2019 The California Insurance Code mandates if a property insurance policy requires actual cash value payment, the payment must be based on the property’s depreciation for two types of claims: (1) a partial loss to a structure, i.e., a home or building and (2) damaged… Continue reading Applying Depreciation in California – Understanding the Guidelines
Calculating RCV and ACV for Structures and Personal Property in California in 2019
Daniel Veroff | Property Insurance Coverage Law Blog | March 25, 2019 California has statutory and case law that defines replacement cost and actual cash value, and these laws are read into every insurance policy notwithstanding what the policy language says. This blog has several posts on the subject,1 and this post aims to give you… Continue reading Calculating RCV and ACV for Structures and Personal Property in California in 2019
Can My Recovery be Limited to Actual Cash Value When the Insurer’s Failure to Pay Prevented Compliance with My Policy Condition on Recovering Replacement Cost?
Paul LaSalle | Property Insurance Coverage Law Blog | March 12, 2019 Insurers often try to limit damages once they are found liable for breach of the insurance contract by claiming that the insurance policy limits the insured’s recovery to the actual cash value because the insured did not comply with the policy’s condition on… Continue reading Can My Recovery be Limited to Actual Cash Value When the Insurer’s Failure to Pay Prevented Compliance with My Policy Condition on Recovering Replacement Cost?
Replacement Cost Coverage and the 180-Day Notice Requirement
Edward Eshoo | Property Insurance Coverage Law Blog | March 3, 2019 In my experience, one of the most misinterpreted property insurance policy provisions is the 180-day notice requirement to receive replacement cost benefits. Many in the property insurance industry interpret the provision to require actual repair/replacement within 180 days of the loss. Others interpret… Continue reading Replacement Cost Coverage and the 180-Day Notice Requirement