Over the past few posts, I’ve explored a couple of recent opinions from federal courts in the Eastern and Middle Districts of Tennessee that explored the appropriate use of appraisal in resolving disputes about the “scope” of a loss. For this next installment, we move to West Tennessee for yet another recent case on the
valuation
Agent Potentially Responsible For Failing to Insure to Value
By Parks Chastain on
Posted in Valuation Issues
One of the most commented upon topics presented by this Blog has been the question of co-insurance, or insurance to value, and where liability lies when there in an improper valuation. Although not specifically dealing with co-insurance, I commend to your reading the case of English Mountain Retreat, LLC. et. al. v. Suzanne Crustenberry-Greg, et.
Policy Language Often Provides Valuation Measure
By Parks Chastain on
Posted in Valuation Issues
While I acknowledge Clift v. Fulton Fire Insurance Company, 315 S.W.2d 9 (Tenn. Ct. App. 1958), cert. denied, provides a rule for allowing valuation of property under a somewhat “elastic” standard of “value to the owner,” this ambiguous standard should not apply where the valuation provisions of property coverage are specifically set forth…
Tennessee’s Elusive Standard for Valuing Household Personal Goods
By Brandon McWherter on
Posted in Valuation Issues
A common question around my office is, “How do I know what values to claim for my personal goods?” Fortunately, a 1958 Tennessee Court of Appeals opinion provides the answer, but it is not one that is widely disseminated by adjusters to policyholders. In Tennessee, household goods, furniture, clothing and other articles acquired for personal…