In Kansas, when a property is a total loss, Kansas Statute Annotated § 40-905(a) provides:

Statement of value in policy; evidence of ownership of property; exceptions
(a)(1) Whenever any policy of insurance or an increase in the amount of coverage in an existing policy of insurance shall be written to insure any improvements upon real property in this state against loss by fire, tornado, windstorm or lightning, and the property insured shall be wholly destroyed, without criminal fault on the part of the insured or the insured’s assigns, the amount of insurance written in such policy shall be taken conclusively to be the true value of the property insured, and the true amount of loss and measure of damages, and the payment of money as a premium for insurance shall be prima facie evidence that the party paying for such insurance is the owner of the property insured.

[Emphasis added]

Continue Reading Calculating Actual Cash Value, Part 12: Kansas

This week I turn our look at the total loss standards across the Union to Kansas. I felt this was especially fitting as I have spent time recently looking into the musical Wicked after my father kindly purchased my wife and me a pair of tickets for its stop here in Tampa. For those of you who get out as little as I do, Wicked is apparently a smash Broadway hit telling the story of the witches from the Wizard of Oz. Perhaps the most famous line from the original Wizard of Oz, and one I find myself referencing from time to time, is the memorable “Toto, I have a feeling we’re not in Kansas anymore” as seen here:

Continue Reading What Constitutes a Total Loss in Kansas?