Insurance 101 – Chapter 9 – Volume 62 – The Broad Evidence Rule

The Broad Evidence Rule

Although, for some time almost all courts applied either the fair market value or the reproduction or replacement value test in determining ‘actual cash value,’ there has been, in recent years a tendency ‘to look beyond these criteria in order that more complete indemnity might be effectuated. These courts have held, in essence, that any evidence logically tending to the formation of a correct estimate of the value of the destroyed or damaged property might be considered by the trier of facts in determining ‘actual cash value’ at the time of loss.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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