Insureds Are Bound To $132,793.95 For Their Storm Damage Loss, Majority Affirms
(February 22, 2016, 1:25 PM EST) -- KNOXVILLE, Tenn. — A majority of the Tennessee Court of Appeals on Feb. 17 found that a lower court properly enforced a homeowners insurance policy’s appraisal provision, affirming that insureds and their insurer are bound to a $132,793.95 appraisal award in a dispute over coverage for storm damage to the insureds’ dwelling and other structures (Joseph C. Thomas, et al. v. The Standard Fire Insurance Co., et al., No. E2015-01224-COA-R3-CV, Tenn. App.).
(Opinion available. Document #51-160310-006Z.)
On March 14, 2006, The Standard Fire Insurance Co., which...