Actual Cash Value (ACV) and Replacement Cost Value (RCV) are based on the current cost to replace the damaged property with the new property. The only difference between Actual Cash Value and Replacement Cost Value is the deduction for depreciation.
Ohio Statute of Limitation Changes
In 2021, Ohio approved changes to the statute of limitation for breaches of written contracts and oral contracts. Learn how these changes may affect claims filing.
Help Us Help You Recover More
We understand clients want to attempt all avenues of collection before sending the file to litigation. Unfortunately, waiting to send in a file can close potential avenues of collection. We recommend sending in motor vehicle files no later than six months before the statute of limitations.
Ohio Rules of Civil Procedure Updates
The Ohio Rules of Civil Procedure determine the legal processes that are followed by Ohio state courts in civil actions. The rules are meant to eliminate delay and improve efficiency. On July 1, 2020, amendments to the Ohio Rules of Civil Procedure took effect. For the next few issues, we...
Liability of a Dog Owner
Ohio Revised Code 955.28 covers the liability of a dog owner. Our Columbus, Ohio office has had many cases where a dog gets loose, runs into the street, and causes a vehicle to strike the dog or swerve to miss the dog and strike other property (e.g., another vehicle, fence,...
When a Tortfeasor Dies in Ohio
When a tortfeasor passes away before a creditor has filed a lawsuit, there are several steps a creditor must take to collect on a claim within a certain amount of time.
Indiana Negligent Entrustment
Under Indiana law, the theory of Negligent Entrustment allows for an injured party to recover from the owner of a vehicle who negligently allowed another person to use the vehicle. Negligent entrustment is most common in auto claims, although there are other circumstances where it is applicable.
Judgment or Judgement
Seeing as my last article touched on spelling, I figured I would keep with the grammar theme for this month’s article and discuss the right spelling and usage of “judgment.” As with many words, the different spelling is attributable to different countries or locales, in this situation the United States...
Promissory Note
In the course of trying to collect from uninsured motorists, some insurers and their vendors may use promissory notes. It is important to remember that for these notes to be valid and collectible there are rules the insurer should follow.
Illinois Dead Man’s Act
The Illinois Dead Man’s Act strongly constricts the ability of a Plaintiff to present evidence in cases in which the Defendant is deceased. As with any good rule based in old English common law, it comes with its own lyrical phrase: since a decedent’s lips are sealed by death, a...