Section 4.41 Property Other Than Buildings

• Library: Insurance Practice 2015

Losses of carpeting, household appliances, awnings, outdoor antennas, outdoor equipment (regardless of whether attached to buildings), personal property, structures that are not buildings, and grave markers, including mausoleums, are settled at an amount equivalent to the actual cash value at the time of the loss but not exceeding the amount necessary to repair or replace the property.

The “actual cash value” of insured goods means the sum of money the goods would have brought at the market place for cash at the time and place where they were destroyed. Myers v. Am. Indem. Co., 457 S.W.2d 468, 471 (Mo. App. S.D. 1970). “[F]air...