Southern Home Insurance v. Faulkner

Citations

• 57 Fla. 194

Syllabus

<p>Fire Insurance — Covenants for Arbitration of Amount of Loss —When Condition Precedent to Right to 'Sue.</p> <p>Covenants in fire insurance policies for appraisal by arbitrators of the amount of the loss are valid and binding upon the parties; and when such policies further provide that the sum for which the insurer is liable shall not become payable until sixty days after an award by such arbitrators has been received by the insurer, when an appraisal has been required, or that no suit upon the policy shall-be sustainable until after full compliance by the insured with all of such requirements, then such arbitration and award are conditions precedent to the right of the insured to an action upon such policy, where the insurer has demanded such arbitration and award.</p>