Legal Opinion
Olson v. Le Mars Mutual Insurance Company of Iowa
Nebraska Supreme Court
Decided May 13, 2005No. S-04-045PublishedCited by 15 opinions
1Opinion of the CourtStephan, J.
A grain storage building owned by Norris Olson and insured by Le Mars Mutual Insurance Company (Le Mars) was damaged by hail. The cost of repairing the damage was $95,040. The issue presented is whether the insurance policy permits the insurer to deduct a depreciation factor from the repair cost in adjusting the loss. We agree with the district court for Buffalo County that it does not.
BACKGROUND
Olson purchased a commercial property insurance policy from Le Mars to insure a grain storage building located in Buffalo County, Nebraska, for the period from March 20, 2002, through March 20, 2003.…
2Cases cited20 opinions
- Travelers Indemnity Co. v. ArmstrongIndiana Supreme Court · 1982
- Elberon Bathing Co., Inc. v. Ambassador Insurance Co., Inc.Supreme Court of New Jersey · 1978
- Auto-Owners Insurance v. Home Pride Companies, Inc.Nebraska Supreme Court · 2004
- Kane v. State Farm Fire & Casualty Co.Superior Court of Pennsylvania · 2003
- Borden v. General Insurance Co. of AmericaNebraska Supreme Court · 1953
15 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Eicher v. Mid America Financial Investment Corp.Nebraska Supreme Court · 2005
- Dutton-Lainson Co. v. Continental InsuranceNebraska Supreme Court · 2006
- Henn v. American Family Mut. Ins. Co.Nebraska Supreme Court · 2017
- Travelers Indemnity Co. v. International Nutrition, Inc.Nebraska Supreme Court · 2007
- Channer v. CummingNebraska Supreme Court · 2005
10 more not listed; retrieve them via the Exa API.