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Labor Costs Not Excluded From Depreciation When Determining Actual Cash Value

By Tred R. Eyerly on January 9, 2019

    The court dismissed a class action suit against State Farm which sought to establish that a calculation of actual cash value (ACV) in a homeowners policy could not depreciate the cost of labor. Cranfield v. State Farm Fire & Cas. Co., 2018 U.S. Dist. LEXIS 199618 (N.D. Ohio Nov. 26, 2018)

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Posted in Actual Cash Value, First Party Insurance
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