2011 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379 Insurance Other Than Life
Section 379.150. Partial loss--option with insured.
Partial loss--option with insured.
379.150. Whenever there is a partial destruction or damage to property covered by insurance, it shall be the duty of the party writing the policies to pay the assured a sum of money equal to the damage done to the property, or repair the same to the extent of such damage, not exceeding the amount written in the policy, so that said property shall be in as good condition as before the fire, at the option of the insured.
(RSMo 1939 5932)Prior revisions: 1929 5821; 1919 6231; 1909 7022
(2002) Section does not prohibit insurer from withholding depreciation from valid replacement cost claim. Dollard v. Depositors Insurance Company, 96 S.W.3d 885 (Mo.App.W.D.).
(1961) In event insureds elect to have fire insurer repair property under statutory option, policy becomes in effect a building contract imposed by law, and insurer's failure to complete such repairs renders it liable for damages that may be in excess of policy amount. Samuels v. Illinois Fire Insurance Company, 354 S.W.2d 352 (Mo.App.).
Annotation Copyright Missouri Joint Committee on Legislative Research
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