Ind. Code § 27-2-24-3
"Available insurance proceeds"
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Citation
- Ind. Code § 27-2-24-3, "Available insurance proceeds", Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1663019
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Full text
Sec. 3. As used in this chapter, "available insurance proceeds" means:
(1) the proceeds payable under a policy of property or casualty insurance:
(A) to an innocent coinsured; and
(B) based on a claim for property loss to the innocent coinsured's primary residence; minus
(2) proceeds already paid under the policy of property or casualty insurance to:
(A) the innocent coinsured for:
(i) emergency living expenses;
(ii) emergency action necessary to secure the premises of the primary residence; and
(iii) action necessary to prevent further damage to the premises of the primary residence; and
(B) a lienholder or mortgagee who is not under investigation by an authorized agency;
in connection with the property loss described in subdivision (1).