Gibson v. Glens Falls Insurance Company
| Citation | 197 N.W. 950,111 Neb. 827 |
| Decision Date | 22 March 1924 |
| Docket Number | 22699 |
| Parties | SOPHIA C. GIBSON, APPELLEE, v. GLENS FALLS INSURANCE COMPANY, APPELLANT |
| Court | Nebraska Supreme Court |
APPEAL from the district court for Douglas county: CARROLL O STAUFFER, JUDGE. Affirmed on condition.
AFFIRMED ON CONDITION.
DeLamatre & DeLamatre, for appellant.
Arthur C. Pancoast, contra.
Heard before MORRISSEY, C. J., ROSE, DAY and GOOD, JJ., ELDRED District Judge.
This is an action on a nonvalued insurance policy, which insured plaintiff against loss by theft and fire to her second-hand automobile. On the trial plaintiff recovered a verdict and judgment thereon for $ 837.33. Defendant has appealed.
The policy was issued April 28, 1920, and insured plaintiff to the amount of $ 900 against loss. The car was stolen March 20, 1921. A few days later the charred remains of the car were found about 12 miles distant from the scene of the theft.
Several errors are assigned, but on oral argument defendant conceded that it relies on but three of the assignments, namely: Error in giving instructions 7 and 8; and that the verdict is excessive.
The seventh instruction is as follows: "You are instructed that, where the value of an automobile at the time of insurance is fixed or determined, the only diminution on the value thereof which should be considered in determining the loss for which payment can be demanded as insurance is the inherent depreciation in the machine itself, due to injury or damage accruing to it subsequent to the date of the policy."
One of the provisions of the policy is as follows: "This company shall not be liable beyond the actual cash value of the property at the time any loss or damage occurs, and the loss or damage shall be ascertained or estimated according to such actual cash value, with proper deduction for depreciation however caused."
Under this provision of the policy and of the law applicable thereto, the giving of the seventh instruction was manifest error, since it permitted the jury to measure the plaintiff's recovery by the value of the car at the time the policy was issued, less inherent depreciation in the machine itself, due to injury or damage accruing to it subsequent to the date of the policy. Our statute does not require a valued policy upon personal property; nor did the contract of insurance provide for a valued policy, but to the contrary. The true rule for the measure of recovery on a policy of this kind, under our law, where there has been a total loss, is the actual market value of the property at the time the loss occurs. Should the loss be only partial, then the measure of recovery would be the difference between the actual market value of the insured property immediately before and immediately after the damage or injury thereto occurs.
It will be observed that the car was stolen and burned almost a year after the issuance of the policy. It is a matter of common knowledge that automobiles will deteriorate and depreciate in value by reason of ordinary use. A car with...
To continue reading
Request your trial
- Keifer v. Stanley
-
Gibson v. Glens Falls Ins. Co.
...111 Neb. 827197 N.W. 950GIBSONv.GLENS FALLS INS. CO.No. 22699.Supreme Court of Nebraska.March 22, Syllabus by the Court. In an action on a nonvalued policy of insurance against loss by theft and fire to an automobile, where there has been a total loss, the measure of recovery is the actual ......