Showing all results for category “replacement cost value”

Florida’s Middle District Denies Plaintiffs’ Motion for Voluntary Dismissal to Rectify Deficiencies

Douglas Cohen analyzes a Florida Middle District decision that denied the plaintiffs’ motion for voluntary dismissal to rectify deficiencies in the defendant’s motion for summary judgment after determining that the plaintiffs were solely attempting to avoid an adverse ruling and have a “do-over.”

Florida Second District Court of Appeal Reverses Directed Verdict on ACV in Favor of Insurer, Remands for New Trial

Zachary Sonenblum analyzes a Florida Second District Court of Appeal decision to reverse a directed verdict on actual cash value (ACV) entered in favor of the insurer, remanding the case for a new trial.

Florida Middle District Holds Homeowners Limited to ACV Damages as No Repairs Were Completed at Time of Suit

Kelly Vogt analyzes a Florida Middle District decision wherein the court held, under Florida law and the terms of the subject policy, the insureds were not entitled to replacement cost value (RCV) costs, ordinance and law-related expenses, payment for pre-existing damage, or matching costs.

Payment Splitting Is Denied When Coverage Is Denied

Tiffany McAvoy analyzes a Florida Second District Court of Appeal decision holding that payments cannot be split on an ACV/RCV basis in cases where coverage has been denied.

Northern District of Florida Holds the Defendant Insurer Is Entitled to Summary Judgment Because the Plaintiff Made a Claim For Replacement Cost Value, Not Actual Cash Value, And Plaintiff Had Not Repaired or Replaced the Damaged Property as Required by the Policy to Recover.

Irene Thaler analyzes a Northern District of Florida decision holding that the insurer is entitled to summary judgment because the plaintiff made a claim for replacement cost value, not actual cash value, and the plaintiff had not repaired or replaced the damaged property as required by the policy to recover replacement cost value.

First District Court of Appeal Analyzes an Insured’s Post Loss Duties

Douglas Cohen analyzes a First District Court of Appeals case that emphasizes the importance of an insured’s post-loss obligations in first-party property claims. The court found the insureds failed to provide prompt notice, maintain adequate records and submit proper ACV estimates—key factors that relieved the insurer of liability under the policy. A timely reminder of the critical role policy compliance plays in claim recoveries.

Post-Appraisal Withdraw of RCV Claim Results in Windfall for Insured

Tom Moody breaks down a Florida Middle District decision holding that a policy provision limiting an insured’s recovery to the amount spent on repairs did not apply where the insured withdrew its claim to recover on a RCV basis and instead sought recovery on an ACV basis.

SJ Entered in Insurer’s Favor on RCV Only Claim Where No Repairs Made

Tony Pagán, Jr. analyzes a ruling by the U.S. District Court for the Southern District of Florida which highlights the differences between Replacement Cost Value and Actual Cash Value in the context of an insurance carrier’s Motion for Summary Judgment.

Third District Court of Appeal Orders New Trial for Insurer Following Admission of Incorrect Value of Damages by Insured

Kelly Vogt breaks down a 3rd District Court of Appeal decision ordering a new trial for an insurer after finding that the trial court allowed an insured to present evidence on the replacement cost value of damages rather than the actual cash value.

Middle District of Florida Grants Summary Judgment for Insurer Based on Late Notice and Recovery of RCV Damages

By Michael J. Raudebaugh

In a recent order granting summary judgment in favor of Westfield Insurance Company, the United States District Court for the Middle District of Florida reiterated that an insured’s failure to provide timely notice of a claim is a legal basis for denying recovery under the policy.