People's Trust Insurance Co. v. Banks
Homeowners whose cast iron pipes deteriorated sought coverage for water damage plus tear-out/pipe-repair costs beyond the $10,000 limit of a Limited Water Damage endorsement they had purchased after accepting a Water Damage Exclusion endorsement for a reduced premium. The Third DCA held that corrosion/deterioration of pipes is an 'act of nature' within the WDX endorsement's exclusion, and that tear-out costs are part of the water damage loss rather than a separate coverage, so the insurer's $10,000 tender discharged its obligation.
Key facts
- Homeowners with a homeowners insurance policy containing a Water Damage Exclusion endorsement and a separate Limited Water Damage endorsement ($10,000 limit) sought coverage for water damage and pipe tear-out/repair costs caused by deterioration of cast iron pipes.
- The trial court apparently ruled in favor of the insureds on an appraisal award, awarding damages beyond the $10,000 Limited Water Damage endorsement limit.
- +2 more key facts with a free trial
Why it matters
This decision expressly aligns the Third DCA with the Fourth and Fifth DCAs (Dodge, Panettieri, Rosa) on the contested 'act of nature' and tear-out sub-limit issues in People's Trust-style policies, and expressly… — full analysis with a trial
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