Edmund v. Firemen's Fund Insurance

VAUGHN, Judge.

The fire policy in question, as are all that are issued in this State, was issued subject to the following section of the General Statutes.

“§ 58-159. Limit of liability on total loss. —Subject to the provisions of G.S. 58-158, when buildings insured against loss by fire and situated within the State are totally destroyed by fire, the company is not liable beyond the actual cash value of the insured property at the time of the loss or damage; and if it appears that the insured has paid a premium on a sum in excess of the actual value, he shall be reimbursed the proportionate…