Tag Archives: valued policy

Florida Valued Policy Law & Hurricane Irma

We recently received a requested blog topic for the following: FL Value Policy Law as it would apply with Hurricane Irma. If we have an insured with a Citizens policy with Cov A limit of $200,000 and our repair estimate is $180,000 should the value policy law be applied? Answer: It depends. (I’m a lawyer, … Continue Reading

Navigating Florida’s Valued Policy Law – Right to Rebuild in the Statute

Those handling fire losses and dealing with Florida’s Valued Policy Law may not have come across a provision in the statute dealing with the insurance carrier’s option to rebuild. It seems counter-intuitive that a statute meant to address the measure of damages in total losses would provide a provision giving insurance carriers the right to … Continue Reading

Navigating Florida’s Valued Policy Law–Partial Loss By Fire Or Lightning

Several states have valued policy laws (“VPL”) that address situations when policyholders should be paid policy limits for total losses. I have recently had discussions with several experienced adjusters encountering unique circumstances involving Florida’s VPL. As I mentioned to them, it is amazing how you can practice for years in this area of the law and … Continue Reading

What Constitutes A Total Loss in Florida?

In recent years, Florida has fortunately avoided major disasters. However, when major disasters strike, or even when smaller scale disasters devastate one or two homes, policy holders are wise to investigate whether the damage to their home would constitute a total loss. This designation can have incredibly drastic effects as insurance companies are required by … Continue Reading

Florida’s First District Court of Appeal Issues an Opinion on Valued Policy Law

Florida Farm Bureau Casualty Insurance Company v. Mathis — So.3d —-, 35 Fla. L. Weekly D868a, 2010 WL 1542631 (Fla. 1st DCA April 20, 2010) Florida Farm Bureau Casualty Insurance Company appealed a final judgment in favor of the Mathises, awarding them their homeowners policy limits. Hurricane Ivan caused substantial wind and flood damage to … Continue Reading

Federal Court Makes “Erie” Guess as to Louisiana’s Valued Policy Law

Watson v. Allstate Ins. Co. Slip Copy, No. 2:07-cv-3462, 2009 WL 1704730, 2009 U.S. Dist. LEXIS 50993, (E.D. La., June 17, 2009). Vivian Watson’s home was covered by an Allstate “Deluxe Homeowners” policy when Hurricane Katrina hit on August 29, 2005. Following Hurricane Katrina, Watson filed suit against Allstate in Federal District Court, alleging that … Continue Reading

Important Information If You Have a Florida Claim Pending With a Surplus Lines Carrier!

As I noted in a blog post last week, House Bill 853, legislation intended to exclude surplus lines insurance carriers from an entire Chapter of the Insurance Code, was poised to pass both chambers of the legislature — with only the hope that time would run out before they could agree on the wording.… Continue Reading

Changing The Focus

 A year ago the news from Mississippi largely concerned insurance claims practices, trials, and significant settlements. Except for the recent article of our firm’s settlement of twenty two cases against State Farm, the media focus has been on alleged corruption of some policyholder attorneys, especially Dickie Scruggs. Insurance industry leaders must be smiling because this … Continue Reading