I looked around too, and couldn't find any reference. It probably isn't a valued policy state, otherwise one of us would have found a reference to it.
You can always call the Indiana Consumer Affairs or IDOI phone number and ask.
I couldn't find an Indiana definition of "total loss" but here is what I found re "Actual Cash Value":
Indiana courts employ the “Broad Evidence Rule” to determine the actual cash value of property
subject to a loss. See, Travelers Insurance Co. v. Armstrong, 442 N.E.2d 352 (1982).
Each state can have a different definition on these terms, so it is a reasonable question to ask.
Supposedly there are are 19 states with value policy laws. I couldn't find a complete list, but these might be a correct partial list:
Florida, Texas, Missouri, Louisiana, Wisconsin, Arkansas, Mississippi, Minnesota, West Virginia, Tennessee, New Hampshire, Ohio
Each state may be a little different on how they define what types of losses get paid under the statute.
Typically the loss will need to be a total loss and only from certain perils, perhaps only fire, or at least with fire being involved.
But again, "total loss" may have a different definition in different states.
Here is a link to a Louisiana case: https://litigation-essentials.lexis...4f4a2c6cd3
and a Florida case:
and a very important Florida ruling reversing the Mierzwa decision, that put insurance companies on the hook for policy limits when the house was only a little bit damaged by a covered peril: http://webcache.googleusercontent.c...clnk&gl=us