An insurance company or association shall be liable for the actual cash value of the property insured at the date of the loss, unless such value exceeds the amount stated in the policy.

[C97, §1742; C24, 27, 31, 35, 39, §8977; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.97] 2007 Acts, ch 152, §23 CS2007, §515.136 2013 Acts, ch 124, §21