Kerr v. Quaker City Insurance
Supreme Court of Missouri
Appeal from St. Louis Court of Common Pleas. The contract of insurance is substantially a contract for indemnity, is construed most strongly against the insurer, and should, if it can fairly be done, be so construed as to give the insured the indemnity for which he contracted. (Citizens’ Ins.
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Appeal from St. Louis Court of Common Pleas. The contract of insurance is substantially a contract for indemnity, is construed most strongly against the insurer, and should, if it can fairly be done, be so construed as to give the insured the indemnity for which he contracted. (Citizens’ Ins. Co. v. Glasgow et al. 9 Mo. 406, p. 414.) In case of an abandonment for a technical loss, the half value which authorizes it is half the sum which the ship, if repaired, would be worth, without any deduction of one-third new for old. (3 Kent Com. 331.) The actual expenditure or damage is taken into view.…
1Opinion of the CourtBay, Judge
This was a suit on a policy of insurance issued by the Quaker City Insurance Company of Philadelphia, insuring the steamboat David Tatum in the sum of twenty-five hundred dollars against loss or damage by the perils of the river.
The following agreed cáse was submitted to the court:
“ The policy was a valued policy, and the valuation of the boat as fixed thereby was the sum of $15,000.
“ A loss by one of the perils insured against occurred during the lifetime of the policy. The amount of said loss was less than ten per cent, upon the valuation after deducting one-third of cost of repairs, new…
2Cases cited3 opinions
- American Insurance v. Ogden & McCombNew York Supreme Court · 1838
- Dunham v. Commercial InsuranceNew York Supreme Court · 1814
- Byrnes v. National InsuranceNew York Supreme Court · 1823
3Cited by1 opinion
- Parker v. Waycross & Florida RailroadSupreme Court of Georgia · 1889