Hartford Fire Insurance v. Shlenker

Citations

• 80 Miss. 667

Syllabus

<p>1. Fire Insurance. VaVued policy law. Laws 1894, ch. 63. Amended laws 1896, ch. 56. Changeable property.</p> <p>Under laws 1894, ch. 63, as amended, laws 1896, eh. 56, known as the valued policy law, regulating recoveries of losses on fire insurance policies, the insured is entitled to recover:</p> <p>(a) For a total loss of property, except personalty constantly changing in' specifics and quantity, the amount named in the policy on which premiums have been calculated and collected, being an agreed value, is binding on the insurer without reference to other insurance.</p> <p>(b) For a partial loss of property, except personalty constantly changing in specifics and quantity, the amount of actual damage not to exceed the amount of the policy, the insurer being liable according to the extent of the damage, on the basis of the amount on which premiums have been calculated and collected.</p> <p>(c) For losses on personalty constantly changing in specifies and quantity, the actual value of the property destroyed, not exceeding the amount of the policy, the insurer being liable on the basis of the amount on which premiums have been calculated and collected.</p> <p>2. Same. Coinsurance. Three-quarters clause.</p> <p>Coinsurance clauses, three-quarters clauses, and other like clauses in fire insurance policies, must yield to the statute.</p> <p>3. Same. Waiver.</p> <p>A provision in a fire insurance policy, by which the insured undertook to agree to waive the statute, is ineffectual.</p> <p>i. Same. Separate policies.</p> <p>In case of a total loss of property, other than personalty constantly changing in specifics and quantity, the insured can recover of each insurer the full amount of his policy; but in case of partial loss, and in case of loss on personalty constantly changing in specifics and quantity, he can recover only his actual loss.</p>