Nicole Vinson | Property Insurance Coverage Law Blog | April 23, 2017 An April 2017 report by United Policyholders reveals the state rankings of homeowner insurance protections that impact buying insurance. The research revealed that many major insurance companies and many states withhold coverage and policy provisions from consumers during the purchase. These same companies and… Continue reading Essential Property Insurance Coverage Information Withheld from Consumers
Tag: Replacement Cost
Connecticut Values Actual Cash Value as Replacement Cost Value Minus Depreciation
Jason Cieri | Property Insurance Coverage Law Blog | April 5, 2016 The Broad Evidence Rule has been used in Connecticut to calculate Actual Cash Value (ACV) on property damage cases since 1959.1 That all changed in 2011 when the Connecticut House of Representatives passed Substitute House Bill No. 6238. This bill nullified the Broad Evidence… Continue reading Connecticut Values Actual Cash Value as Replacement Cost Value Minus Depreciation
Depreciation of Labor Class Action — Minnesota Supreme Court Oral Argument
Wystan Ackerman | Robinson & Cole | November 8, 2015 I’ve been following closely a series of class actions around the country alleging that, in calculating the “actual cash value” of property damage under a homeowners or commercial property insurance policy, insurance companies should not be applying depreciation to the labor component of the replacement… Continue reading Depreciation of Labor Class Action — Minnesota Supreme Court Oral Argument
Recovering Replacement Cost After Selling Unrepaired Property
Ashley Smith – November 7, 2013 The last several months I’ve spent the majority of my time on the New Jersey Shore. Among the reconstruction, empty lots, and damaged homes I also see a growing number of “for sale” signs lining the sidewalks. In fact, this was a topic of conversation Tuesday night over dinner… Continue reading Recovering Replacement Cost After Selling Unrepaired Property