valued policy law

Should a Deductible Be Subtracted in the Case of a Total Loss?

Brandon McWherter
November 16, 2010 02:41

Consider this scenario - - Jane Doe insures her home for $100,000, with a $1,000 deductible. Unfortunately, Jane's house burns to the ground and is undeniably a "total loss" within the meaning of Tennessee's valued policy statute (click here for a prior post on when a loss should be...

"Total Loss" Doesn't Necessarily Mean "Burned to the Ground"

Brandon McWherter
August 06, 2009 11:15

Tennessee's valued policy law(T.C.A. 56-7-803) provides that an insurer is liable to the policyholder for the full policy limits if a total loss occurs.  As a result, the big "fight" is often over the issue of whether a loss is "total" or "partial" in nature....

The Valued Policy Statute Should Not Be Limited to Losses Caused by Fire

Brandon McWherter
May 16, 2009 05:32

Parks Chastain recently authored a post here in which he opined that Tennessee's valued policy statute should apply only to losses caused by fire, not wind.  I disagree.  Tennessee's valued policy statutes (T.C.A. 56-7-801 through 803) were enacted in 1927, and last edited just a few...

The Meaning of "Total Loss" Under Tennessee's Valued Policy Law

Parks Chastain
May 11, 2009 15:22

Often, litigants attempt to use the Valued Policy Law to establish that losses are total for purposes of maximizing policy recovery. In many instances, unless the home or structure is totally destroyed and “on the ground,” so to speak, expert proof can be adduced to establish that much...

Tennessee's Valued Policy Law Should Apply Only To Losses By Fire, Not Windstorm

Parks Chastain
May 11, 2009 15:13

For the past two years, the spring months have brought severe and deadly tornados to various parts of Tennessee. One issue that has often arisen, but has not yet been addressed by any Tennessee appellate court, is the extent to which Tennessee’s “Valued Policy Law” would, or...