Month: September 2013

Florida Homeowners Are Entitled to Replacement Cost Without First Entering Into a Contract or Incurring the Costs | Property Insurance Coverage Law Blog

In property insurance claims, insurers will often pay for repairs at actual cash value (withholding depreciation) and inform the policyholder that once the repairs are actually made or contracted for they will pay the holdback amount and receive the replacement cost value (“RCV”). In Florida, residential policyholders insured under replacement cost value policies are entitled …

Florida Homeowners Are Entitled to Replacement Cost Without First Entering Into a Contract or Incurring the Costs | Property Insurance Coverage Law Blog Read More »

With an All-Risk Policy, Does the Policyholder Have to Specify What the Covered Peril Is? | Property Insurance Coverage Law Blog

We have often discussed the importance of the type of insurance policy involved and the difference it makes from a coverage perspective. For example, the burden of proof is different between a named-peril policy and an all-risk policy. Knowing the difference is important, and knowing what your rights are under the policy you have purchased …

With an All-Risk Policy, Does the Policyholder Have to Specify What the Covered Peril Is? | Property Insurance Coverage Law Blog Read More »