Measure of Damages in Case of Agent's Failure to Inspect Property

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If the company, its designee or agent, fails to place a reasonable value on any insured property within the ninety-day period provided in §56-7-801, and that is agreed to by the insured, and a loss occurs, then the value as shown by the policy or application is conclusively presumed to be reasonable, and settlement shall be made on that basis.


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