Opinion
Case No. 3D00-255.
Opinion filed June 6, 2001.
An Appeal from the Circuit Court for Miami-Dade County, Philip Bloom, Judge. Lower Tribunal No. 97-18254.
Angones, Hunter, McClure, Lynch Williams, and Christopher Lynch, for appellant.
John S. Cosgrove; and Jeanne Heyward, for appellee.
Before LEVY, FLETCHER, and RAMIREZ, JJ.
Allstate Insurance Company, defendant below, appeals an award of prejudgment interest to plaintiffs Roberto and Maria Blanco. We reverse because prejudgment interest should have been computed from the date of the appraisal award, not the date of loss.
The Blancos were insured by Allstate when their home was damaged by Hurricane Andrew. They submitted a claim which Allstate promptly paid. Five years later, the Blancos submitted a supplemental claim for Hurricane Andrew losses and received an appraisal award on February 26, 1999, which Allstate paid on March 30, 1999. The Blancos were awarded prejudgment interest from August 24, 1992, the date of loss.
"[A] plaintiff is entitled to prejudgment interest when it is determined that the plaintiff has suffered an actual, out-of-pocket loss at some date prior to the entry of judgment." Alvarado v. Rice, 614 So.2d 498, 499 (Fla. 1993). The cases that recognize a right to prejudgment interest have all involved the loss of a vested property right. Id. Here, the Blancos' supplemental claim was similar to the medical expenses at issue in the Alvarado case in that the Blancos had not suffered the loss of a vested property right. Thus, the Blancos were not entitled to prejudgment interest prior to receiving an appraisal award which determined their actual loss. See also Liberty Mutual Ins. Co. v. Alvarez, Case No. 3D00-2723 (Fla. 3d DCA May 23, 2001); Aries Ins. Co. v. Hercas Corp., 781 So.2d 429 (Fla. 3d DCA 2001) (stating that the insured was entitled to prejudgment interest from the date of the appraisal award as that was the date on which the damages were liquidated).
Thus, prejudgment interest is awarded from the date of the appraisal award and would normally have been awarded from February 26, 1999, rather than from the date of loss. However, the insurance policy provisions allowed Allstate sixty days within which to pay the appraisal award and Allstate made payment within the allotted time. Thus, the Blancos are not entitled to receive any prejudgment interest and their cross-appeal is rendered moot.
Reversed.