Zochert v. National Farmers Union Property & Casualty Company
Supreme Court of South Dakota
576 N.W.2d 531 (1998)
The replacement cost of damaged property covered under an insurance policy must be adjusted to account for depreciation of the damaged property.
Relevant Facts
Zochert Farms Inc. (plaintiff) had an insurance policy with National Farmers Union Property & Casualty Company (defendant). After silos covered by the policy were damaged, National’s adjustor calculated the replacement cost minus depreciation. Zochert disagreed about whether depreciation should be deducted from the actual cash value.
Issue
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Holding & Reasoning
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Concurrence
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Dissent
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Last updated:
December 8, 2023
Judicial Opinion
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Procedural History
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Citations
576 N.W.2d 531 (1998)