MO SB154

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

Prohibits insurance defendants from denying that property was worth the full insured amount at the time the policy was issued or renewed.

For total loss claims, damages equal the insured amount minus any depreciation below the insured value, with the insurance company bearing the burden of proving depreciation.

For partial loss claims, damages are calculated as the proportion of the whole property's value that the damaged or destroyed portion represents.

Applies to all insurance policies hereafter issued or renewed in Missouri.