Amicus Library

The Florida Legislature has mandated under Fla. Stat. § 627.7011(3)(a) that a property insurer must pay the actual cash value (“ACV”) of a homeowner’s property loss without first requiring repairs to the property. Here, the insurer made a payment based upon its adjuster’s estimate of…

Under Florida law, an insurance company is obligated to pay actual cash value (“ACV”) without requiring the policyholder to first complete the repairs necessary to collect full replacement cost. However, the ACV amount is a question of fact and the insurance company is not permitted…