Bizet v. General Accident & Indemnity Co.

MARVIN, Judge.

Plaintiff building contractor appeals a judgment rejecting his demands for the $15,000 proceeds of a fire insurance policy and for penalties and attorney fees under LRS 22:658. We affirm.

Plaintiff is an experienced contractor who routinely purchased builder’s risk insurance on his construction and renovation jobs. The premium for such insurance is based on the “average amount of liability during the period of construction” for coverage that is proportionate to the value of the work done by the builder to the value projected at the completion of the work. This insurance protects…