Tenn. Code § 56-7-803

Current through Acts 2023-2024, ch. 1069

Section 56-7-803 - Measure of damages in case of agent's failure to inspect property

If the company, its designee or agent, fails to place a reasonable value on any insured property within the ninety-day period provided in § 56-7-801, and that is agreed to by the insured, and a loss occurs, then the value as shown by the policy or application is conclusively presumed to be reasonable, and settlement shall be made on that basis.

T.C.A. § 56-7-803

Amended by 2014 Tenn. Acts, ch. 652,s 2, eff. 4/8/2014.

Acts 1927, ch. 72, § 2; mod. Code 1932, § 6174; T.C.A. (orig. ed.), § 56-1139.