MO SB619

Repeals and replaces section 379.140, RSMo, to expand insurance coverage language from fire-specific losses to any peril covered under the policy terms.

Prevents insurance defendants from denying that insured property was worth the full insured amount at the time of policy issuance or renewal.

For total loss claims, damages equal the insured amount minus any depreciation in value between policy issuance and loss, with the insurance company bearing the burden of proving depreciation.

For partial loss claims, damages are calculated as the proportional value of the damaged or destroyed portion relative to the whole insured property value.

Applies to all insurance policies hereafter issued or renewed under Missouri law.