An Indiana church seeking payment at replacement-cost level for fire damage to its property learned the hard way that procrastination can carry a price tag.
A federal appeals court ruled last week that Church Mutual does not owe replacement-level coverage to Lighthouse Tabernacle Church in Crothersville, Indiana. Higher replacement-cost benefits applied only if the church promptly made repairs, which it did not, the court said.
The 7th Circuit Court of Appeals said Lighthouse Tabernacle waited far too long to argue it was relieved of a contractual obligation to timely rebuild…