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
Tag: Depreciation
Federal District Court Weighs in on Whether Labor Can Be Depreciated in Arriving at an Actual Cash Value Loss Settlement
Edward Eshoo | Property Insurance Coverage Law Blog | December 7, 2018 Whether labor can be depreciated in arriving at an actual cash value property loss settlement has been a hot topic of debate over these past five years. A federal district court in Ohio recently weighed in on the issue in ruling on motions… Continue reading Federal District Court Weighs in on Whether Labor Can Be Depreciated in Arriving at an Actual Cash Value Loss Settlement
Explaining Depreciation of Personal Property Contents in Colorado
Jonathan Bukowski | Property Insurance Coverage Law Blog | April 14, 2018 Whether your insurance company forced you to sift through soot and ash, trying to recollect what has just been stolen, or trying to identify items damaged by water, going through damaged contents and creating an inventory is an emotionally draining experience that typically… Continue reading Explaining Depreciation of Personal Property Contents in Colorado
California Supreme Court Affirms California Fair Plan Ass’n v. Garnes, and Preserves Homeowners’ Interests
Stephanie Poll | Property Insurance Coverage Law Blog | August 17, 2017 The California Department of Insurance recently issued a press release announcing that the California Supreme Court affirmed the homeowner reimbursement protections recently decided in California Fair Plan Association v. Garnes.1 Back in June, my colleague Kevin Pollack wrote about the recent decision and whether actual cash value means fair… Continue reading California Supreme Court Affirms California Fair Plan Ass’n v. Garnes, and Preserves Homeowners’ Interests
Depreciation of Labor Costs When Determining Actual Cash Value: Henn v. American Family
Alycen A. Moss | Property Insurance Law Observer | June 20, 2017 In February, the Nebraska Supreme Court held that it is acceptable for insurance companies to depreciate labor costs when determining the actual cash value (ACV) of damaged property, even when the insurance policy does not define “actual cash value” or “depreciation.” See Henn v.… Continue reading Depreciation of Labor Costs When Determining Actual Cash Value: Henn v. American Family