Valued Policy Law

April 14, 2017

Case Law Analysis Regarding Value Policy Law and What You Should do to Ensure Payment

The Ceballos had purchased a homeowner’s insurance policy and purchased a supplemental policy through Citizens Property Insurance (“Citizens”).  When they lost their home to a fire, Citizens paid the face value of the policy.  However, Citizens argued that the Ceballos first had to show proof of actual loss before they could recover additional damages under the supplemental policy. The Ceballos argued that because they met their burden of demonstrating a total loss under Florida’s Valued Policy Law §627.702 (“VPL”), they should receive the policy limits of the supplemental coverage without establishing any additional loss.  Florida’s Supreme Court disagreed and held […]