{"id":2566,"date":"2014-01-27T06:45:34","date_gmt":"2014-01-27T13:45:34","guid":{"rendered":"https:\/\/www.myconstructionexpert.com\/blog\/?p=2566"},"modified":"2014-01-23T17:45:51","modified_gmt":"2014-01-24T00:45:51","slug":"navigating-floridas-valued-policy-law-partial-loss-fire-lightning","status":"publish","type":"post","link":"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/","title":{"rendered":"Navigating Florida&#8217;s Valued Policy Law&#8211;Partial Loss By Fire Or Lightning"},"content":{"rendered":"<p>Shaun Marker &#8211; January 20, 2014<\/p>\n<p>Several states have valued policy laws (\u201cVPL\u201d) that\u00a0address situations when policyholders should be paid policy limits for total losses. I have recently had discussions with several experienced adjusters encountering unique circumstances involving Florida\u2019s VPL. As I mentioned to them, it is amazing how you can practice for years in this area of the law and still have unique situations arise. So I thought I would write a series on Florida\u2019s VPL.1<\/p>\n<p>Florida\u2019s VPL has existed in Florida for over a hundred years. The purpose of the statute is to fix the measure of damages in case of a total loss, or partial loss, and it requires the insurer to ascertain the insurable value at the time of writing the policy and to include the total insurable value of the property in the policy.2<\/p>\n<p>Do you think Florida\u2019s VPL applies to partial losses?<\/p>\n<p>In certain circumstances, it does\u2026the second section of the VPL addresses insurers\u2019 obligations to pay claims when the insured property sustains a partial loss due to fire or lightning. Section (2) of Florida\u2019s VPL provides:<\/p>\n<p>(2) In the case of a partial loss by fire or lightning of any such property, the insurer\u2019s liability, if any, under the policy shall be for the actual amount of the loss but shall not exceed the amount of insurance specified in the policy as to such property and such peril.<\/p>\n<p>In cases involving a partial loss by fire or lightning, the insurer must pay \u201cthe actual amount\u201d of the loss. The statute requires the insurer to pay the claim to place the building in as nearly the same condition as it was before the loss without allowing depreciation of the materials used.3<\/p>\n<p>Florida\u2019s VPL does not apply to partial losses other than those caused by fire or lightning. Do not hesitate to contact experienced insurance claim representatives if you have questions about whether your loss was appropriately paid.<\/p>\n<p>1 Fla. Stat. \u00a7627.702.<\/p>\n<p>2 Hartford Fire Ins. Co. v. Redding, 37 So. 62, 65 (Fla. 1904).<\/p>\n<p>3 Sperling v. Liberty Mut. Ins. Co., 281 So.2d 297 (Fla. 1973).<\/p>\n<p>via <a href=\"http:\/\/www.propertyinsurancecoveragelaw.com\/2014\/01\/articles\/insurance\/navigating-floridas-valued-policy-lawpartial-loss-by-fire-or-lightning\/index.html\">Navigating Florida&#8217;s Valued Policy Law&#8211;Partial Loss By Fire Or Lightning : Property Insurance Coverage Law Blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shaun Marker &#8211; January 20, 2014 Several states have valued policy laws (\u201cVPL\u201d) that\u00a0address situations when policyholders should be paid policy limits for total losses. I have recently had discussions with several experienced adjusters encountering unique circumstances involving Florida\u2019s VPL. As I mentioned to them, it is amazing how you can practice for years in&hellip; <a class=\"more-link\" href=\"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/\">Continue reading <span class=\"screen-reader-text\">Navigating Florida&#8217;s Valued Policy Law&#8211;Partial Loss By Fire Or Lightning<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[3,1],"tags":[270,3,485],"class_list":["post-2566","post","type-post","status-publish","format-standard","hentry","category-insurance-claims","category-insurance-estimates","tag-cgl-insurance-policy","tag-insurance-claims","tag-valued-policy-law","entry"],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Navigating Florida&#039;s Valued Policy Law-Partial Loss By Fire Or Lightning - Advise &amp; Consult, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Navigating Florida&#039;s Valued Policy Law-Partial Loss By Fire Or Lightning - Advise &amp; Consult, Inc.\" \/>\n<meta property=\"og:description\" content=\"Shaun Marker &#8211; January 20, 2014 Several states have valued policy laws (\u201cVPL\u201d) that\u00a0address situations when policyholders should be paid policy limits for total losses. I have recently had discussions with several experienced adjusters encountering unique circumstances involving Florida\u2019s VPL. As I mentioned to them, it is amazing how you can practice for years in&hellip; Continue reading Navigating Florida&#8217;s Valued Policy Law&#8211;Partial Loss By Fire Or Lightning\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/\" \/>\n<meta property=\"og:site_name\" content=\"Advise &amp; Consult, Inc.\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Advise-Consult-Inc-126949043996790\/\" \/>\n<meta property=\"article:published_time\" content=\"2014-01-27T13:45:34+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@adviseconsult\" \/>\n<meta name=\"twitter:site\" content=\"@adviseconsult\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/#\/schema\/person\/0a11abe008083d5fb19c2b0feefe7bd7\"},\"headline\":\"Navigating Florida&#8217;s Valued Policy Law&#8211;Partial Loss By Fire Or Lightning\",\"datePublished\":\"2014-01-27T13:45:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/\"},\"wordCount\":375,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/#organization\"},\"keywords\":[\"CGL Insurance Policy\",\"Insurance Claims\",\"Valued Policy Law\"],\"articleSection\":[\"Insurance Claims\",\"Insurance Estimates\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/\",\"url\":\"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/\",\"name\":\"Navigating Florida's Valued Policy Law-Partial Loss By Fire Or Lightning - Advise &amp; Consult, Inc.\",\"isPartOf\":{\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/#website\"},\"datePublished\":\"2014-01-27T13:45:34+00:00\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/#website\",\"url\":\"https:\/\/www.myconstructionexpert.com\/blog\/\",\"name\":\"Advise &amp; Consult, Inc.\",\"description\":\"Construction Expert Witnesses\",\"publisher\":{\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.myconstructionexpert.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/#organization\",\"name\":\"Advise & Consult\",\"url\":\"https:\/\/www.myconstructionexpert.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.myconstructionexpert.com\/blog\/wp-content\/uploads\/2015\/11\/AC-Red-Logo.png\",\"contentUrl\":\"https:\/\/www.myconstructionexpert.com\/blog\/wp-content\/uploads\/2015\/11\/AC-Red-Logo.png\",\"width\":162,\"height\":75,\"caption\":\"Advise & Consult\"},\"image\":{\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/Advise-Consult-Inc-126949043996790\/\",\"https:\/\/x.com\/adviseconsult\",\"https:\/\/www.linkedin.com\/company-beta\/204526\/\",\"https:\/\/www.youtube.com\/user\/MrConstructionExpert\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/#\/schema\/person\/0a11abe008083d5fb19c2b0feefe7bd7\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.myconstructionexpert.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b01e71b7acadd7657af782b7ad1a30cc?s=96&d=mm&r=pg\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b01e71b7acadd7657af782b7ad1a30cc?s=96&d=mm&r=pg\",\"caption\":\"admin\"},\"sameAs\":[\"http:\/\/www.expertwitnessinconstruction.com\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Navigating Florida's Valued Policy Law-Partial Loss By Fire Or Lightning - Advise &amp; Consult, Inc.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/","og_locale":"en_US","og_type":"article","og_title":"Navigating Florida's Valued Policy Law-Partial Loss By Fire Or Lightning - Advise &amp; Consult, Inc.","og_description":"Shaun Marker &#8211; January 20, 2014 Several states have valued policy laws (\u201cVPL\u201d) that\u00a0address situations when policyholders should be paid policy limits for total losses. I have recently had discussions with several experienced adjusters encountering unique circumstances involving Florida\u2019s VPL. As I mentioned to them, it is amazing how you can practice for years in&hellip; Continue reading Navigating Florida&#8217;s Valued Policy Law&#8211;Partial Loss By Fire Or Lightning","og_url":"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/","og_site_name":"Advise &amp; Consult, Inc.","article_publisher":"https:\/\/www.facebook.com\/Advise-Consult-Inc-126949043996790\/","article_published_time":"2014-01-27T13:45:34+00:00","author":"admin","twitter_card":"summary_large_image","twitter_creator":"@adviseconsult","twitter_site":"@adviseconsult","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/#article","isPartOf":{"@id":"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/"},"author":{"name":"admin","@id":"https:\/\/www.myconstructionexpert.com\/blog\/#\/schema\/person\/0a11abe008083d5fb19c2b0feefe7bd7"},"headline":"Navigating Florida&#8217;s Valued Policy Law&#8211;Partial Loss By Fire Or Lightning","datePublished":"2014-01-27T13:45:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/"},"wordCount":375,"commentCount":0,"publisher":{"@id":"https:\/\/www.myconstructionexpert.com\/blog\/#organization"},"keywords":["CGL Insurance Policy","Insurance Claims","Valued Policy Law"],"articleSection":["Insurance Claims","Insurance Estimates"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/","url":"https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/","name":"Navigating Florida's Valued Policy Law-Partial Loss By Fire Or Lightning - Advise &amp; Consult, Inc.","isPartOf":{"@id":"https:\/\/www.myconstructionexpert.com\/blog\/#website"},"datePublished":"2014-01-27T13:45:34+00:00","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.myconstructionexpert.com\/blog\/navigating-floridas-valued-policy-law-partial-loss-fire-lightning\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.myconstructionexpert.com\/blog\/#website","url":"https:\/\/www.myconstructionexpert.com\/blog\/","name":"Advise &amp; Consult, Inc.","description":"Construction Expert Witnesses","publisher":{"@id":"https:\/\/www.myconstructionexpert.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.myconstructionexpert.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.myconstructionexpert.com\/blog\/#organization","name":"Advise & Consult","url":"https:\/\/www.myconstructionexpert.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.myconstructionexpert.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.myconstructionexpert.com\/blog\/wp-content\/uploads\/2015\/11\/AC-Red-Logo.png","contentUrl":"https:\/\/www.myconstructionexpert.com\/blog\/wp-content\/uploads\/2015\/11\/AC-Red-Logo.png","width":162,"height":75,"caption":"Advise & Consult"},"image":{"@id":"https:\/\/www.myconstructionexpert.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Advise-Consult-Inc-126949043996790\/","https:\/\/x.com\/adviseconsult","https:\/\/www.linkedin.com\/company-beta\/204526\/","https:\/\/www.youtube.com\/user\/MrConstructionExpert"]},{"@type":"Person","@id":"https:\/\/www.myconstructionexpert.com\/blog\/#\/schema\/person\/0a11abe008083d5fb19c2b0feefe7bd7","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.myconstructionexpert.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b01e71b7acadd7657af782b7ad1a30cc?s=96&d=mm&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b01e71b7acadd7657af782b7ad1a30cc?s=96&d=mm&r=pg","caption":"admin"},"sameAs":["http:\/\/www.expertwitnessinconstruction.com"]}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p2ztG6-Fo","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myconstructionexpert.com\/blog\/wp-json\/wp\/v2\/posts\/2566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myconstructionexpert.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myconstructionexpert.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myconstructionexpert.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myconstructionexpert.com\/blog\/wp-json\/wp\/v2\/comments?post=2566"}],"version-history":[{"count":0,"href":"https:\/\/www.myconstructionexpert.com\/blog\/wp-json\/wp\/v2\/posts\/2566\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myconstructionexpert.com\/blog\/wp-json\/wp\/v2\/media?parent=2566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myconstructionexpert.com\/blog\/wp-json\/wp\/v2\/categories?post=2566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myconstructionexpert.com\/blog\/wp-json\/wp\/v2\/tags?post=2566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}