§ 34.1-2-510 — Effect of breach on risk of loss

(a) Where a tender or delivery of goods so fails to
conform to the contract as to give a right of rejection the risk
of their loss remains on the seller until cure or acceptance.
(b) Where the buyer rightfully revokes acceptance he may
to the extent of any deficiency in his effective insurance
coverage treat the risk of loss as having rested on the seller
from the beginning.
(c) Where the buyer as to conforming goods already
identified to the contract for sale repudiates or is otherwise
in breach before risk of their loss has passed to him, the
seller may to the extent of any deficiency in his effective
insurance coverage treat the risk of loss as resting on the
buyer for a commercially reasonable time.