Tennessee is a valued policy state, which means that in most instances an insurance company must pay policy limits in the event of a “total loss.” Back in 2009, Parks and I offered some differing viewpoints about what a total loss is or should be (see here and here). One of the issues we
constructive total loss
The Meaning of “Total Loss” Under Tennessee’s Valued Policy Law
By Parks Chastain on
Posted in Valued Policy Law
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 of the building could be re-used, and…