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  5. 41 N.Y.2d 934 (1977)
 

TRIMBLE-WATERMAN ASSOCS. v. CERTAIN UNDERWRITERS AT LLOYD'S

41 N.Y.2d 934 (1977)

Trimble-Waterman Associates et al., Appellants, v. Certain Underwriters at Lloyd's et al., Respondents.

Court of Appeals of the State of New York.

Decided March 24, 1977.

Attorney(s) appearing for the Case

William J. Junkerman and Randal R. Craft, Jr., for appellants.

Julian S. Gravely, Jr., John J. Martin and Robert F. Ewald for respondents.

Chief Judge BREITEL and Judges JASEN, GABRIELLI, JONES, WACHTLER, FUCHSBERG and COOKE concur.

MEMORANDUM.

The order of the Appellate Division should be affirmed, with costs.

An aircraft with a market value of perhaps $180,000 crashed in the course of a landing operation. There was proof that repairs would total at least $158,000, and that the damaged aircraft had a salvage value of some $37,000. Respondant insurers had written a "valued policy" in which the stated value of the insured aircraft was $300,000...

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