Replacement Cost Value
Amado Trinidad v. Florida Peninsula Insurance Company
Year: 2011
Court: Florida Supreme Court
Case Number: SC11-1643
Issue:
  • Contractor’s Overhead and Profit
  • Homeowners Insurance
  • Replacement Cost Value
State:
  • Florida

A homeowner purchased an insurance policy that provided Replacement Cost Value (RCV) coverage on his dwelling. A policyholder reasonably expects that by paying an additional premium for this type of coverage, (which is superior to “actual cash value” (ACV) coverage), he or she will recover…
Stephens v. Fireman’s Fund Insurance Company
Year: 2014
Court: California Court of Appeal, First District, Division One
Case Number: A135938/A136740
Issue:
  • Insurer's Duties/Prevention
  • Replacement Cost Value
State:
  • California

Insurers owe special duties to policyholders, including the duty to communicate policy requirements and settle claims fairly. Policyholders have a reasonable expectation that their policy benefits will be paid, provided they themselves comply with the requirements of the policy. In cases where the insurer prevents…
Seber v. General Fire and Cas. Co. et al
Year: 2014
Court: Indiana Supreme Court
Case Number: Appeal from 53A01-1405-PL-00208
Issue:
  • Ambiguity and Omission
  • Replacement Cost Value
State:
  • Indiana

Policyholders pay higher premiums for replacement cost value policies in order to recoup additional insurance proceeds necessary to rebuild or purchase substitute property. Insurers should be prohibited from attempting to pay only actual cash value (i.e., depreciated value) based on semantic discussions of undefined or…
Request for Depublication: Stephens v. Fireman’s Fund
Year: 2015
Court: California Court of Appeal, First District, Division One
Case Number: A135938; A136740
Issue:
  • Replacement Cost Value
  • Tort v. Contract Damages
State:
  • California

UP submitted this letter requesting depublication of the decision in Stephens & Stephens XII, LLC v. Fireman’s Fund Ins. Co. (A135938; A136740, Certified for Partial Publication November 24, 2014; 231 Cal.App.4th 1131, modified at 231 Cal.App.4th 1437d) based on legal errors in the opinion with…
Association of California Insurance Companies et al. v. Dave Jones, in his capacity as Insurance Commissioner for the State of California
Year: 2016
Court: California Supreme Court (California Court of Appeal, Second Appellate District, Division One)
Case Number: B248622/S226529
Issue:
  • Regulatory Authority
  • Replacement Cost Value
  • Underinsurance
State:
  • California

After every wildfire UP has worked since 1991, over 50% of the victims who thought they were fully insured turned out to be insured for less – often far less – than they needed to cover repairs and rebuilding. We refer to this as “the…