Montana § 33-24-101 Measure Of The Indemnity -- Rescission For Fraud

Montana Statutes

§ 33-24-101 — Measure Of The Indemnity -- Rescission For Fraud

Montana § 33-24-101

Title 33INSURANCE AND INSURANCE COMPANIES

Ch. 24PROPERTY INSURANCE

Part 1General Provisions

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Bluebook

Mont. Code Ann. § 33-24-101 (2026).

Text

33-24-101 . Measure of the indemnity -- rescission for fraud. If there is no valuation in the policy and unless a basis more favorable to the insured is provided for in the policy, the measure of indemnity in an insurance against fire is the expense, at the time that the loss is payable, of replacing the thing lost or injured, in the condition in which it was at the time of the injury; but a valuation, fraudulent in fact, entitles the insurer to rescind the contract.

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33-24-101 . Measure of the indemnity -- rescission for fraud. If there is no valuation in the policy and unless a basis more favorable to the insured is provided for in the policy, the measure of indemnity in an insurance against fire is the expense, at the time that the loss is payable, of replacing the thing lost or injured, in the condition in which it was at the time of the injury; but a valuation, fraudulent in fact, entitles the insurer to rescind the contract.