South Carolina Permits Depreciation Of Labor When Calculating ACV
By EsqSocial Corporation 28/05/21
In Butler, et al. v. The Travelers Home and Marine Insurance Co., separate fires damaged the homes of Miriam Butler and Joseph Stewart. Each home was insured by a Travelers-related insurance company (collectively, “Travelers”). Both policies afforded coverage for the replacement cost value (“RCV”) of the homes. The South Carolina Supreme Court defined RCV as “the amount of money it would take to pay a contractor to repair or replace the damaged structure, including cost for the materials and...
By: Butler Weihmuller Katz Craig LLP