Byrnes v. National Insurance
New York Supreme Court
Assumpsit, upon a policy of insurance. The ship Hercides, owned by the plaintiffs, was insured by the defendants, on a voyage from .New-York to Liverpool, and at and from thence to New-York, to the amount of $10,000, by policy in the usual form, dated Octoher 19th, 1820. In coming down the river, after leaving the dock át Liverpool, on her return voyage, she got aground, and was obliged to put back, unload her cargo, and repair.
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Assumpsit, upon a policy of insurance. The ship Hercides, owned by the plaintiffs, was insured by the defendants, on a voyage from .New-York to Liverpool, and at and from thence to New-York, to the amount of $10,000, by policy in the usual form, dated Octoher 19th, 1820. In coming down the river, after leaving the dock át Liverpool, on her return voyage, she got aground, and was obliged to put back, unload her cargo, and repair. She had been copper sheathed about two years before, and some of the sheathing having been rubbed off by grounding, a part of it was taken off, and replaced by new…
1Opinion of the Court
Curia, per Sutherland, J.
The general rule is unques.tionable, that, in the adjustment of a claim made by the insured upon the underwriters, for repairs put upon a vessel, the underwriters are entitled to a deduction of one third-, *274from the expenses of the repairs ;(d) or, in other words, that they are bound to pay but two thirds of the expense. This deduction of one third new for old, as it is termed, is allowed upon the supposition that the vessel, after being re- , paired, is in better condition than she was at the commencemenj. 0f the voyage, in consequence of new materials having been…
2Cases cited1 opinion
- Dunham v. Commercial InsuranceNew York Supreme Court · 1814
3Cited by4 opinions
- Maynard v. Fireman's Fund InsuranceCalifornia Supreme Court · 1867
- Kerr v. Quaker City InsuranceSupreme Court of Missouri · 1862
- State v. PaceCourt of Appeals of South Carolina · 1856
- Steele v. EdwardsOhio Circuit Courts · 1897