Insurance – Stolen items: what date should be used to evaluate the compensation?

The date to be set for the assessment of the indemnity, which is set according to the value of the insured property, is that of the day of the claim. This is what the Court of Cassation has just recalled.

Two homeowners are the victims of a burglary in which a certain amount of money, carpets and gold coins bought in Turkey are stolen.

After declaring their claim to their insurer, the insurer conducts an amicable examination. The expert commissioned by the insurer then evaluates the stolen gold coins to the sum of € 42,501 corresponding to the value of the gold coins on the day of the accident.

However, the Cour d’appel de Lyon is re-evaluating the insurance and withholding allowance between the euro and the Turkish pound on the day of the decision € 14,832.

The Court of Cassation overturns the judgment of the Court of Appeal of Lyon. It points out that the insurance code provides that property insurance must comply with the indemnity principle. According to this principle, the assessment of the indemnity paid by the insurer must not exceed the value of the insured property. And only the assessment of the indemnity of the insured property, on the day of the claim must be taken into account.

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