26 Nov 2013
MARRIOTT v VERO INSURANCE NEW ZEALAND LIMITED [2013] NZHC 3120
- Citation
- [2013] NZHC 3120
- Court
- High Court
The court held that (1) 'destroyed' means physically impracticable to repair to the pre-loss condition; (2) the sum insured reinstates after each earthquake event from the date of occurrence and any notice refusing reinstatement must be given prospectively; (3) the insured cannot recover repair costs up to the sum insured for damage that were not actually incurred (primary indemnity paid as assessed, reinstatement top-up only for actual reinstatement costs subject to special provisions); and (4) the excess/deductible is deducted from the payment otherwise due under the policy.