Shearer v. Dunn County Farmers Mutual Insurance

The evidence disclosed that the farm insured was owned by the plaintiff subject to a life estate in his mother and to the inchoate dower interest of his wife. The personal property was practically all owned by the plaintiff. The application for the fire insurance was prepared by the agent of the insurer and signed only by the plaintiff. The policy was issued on September 21, 1961, naming only the plaintiff Richard Shearer as the insured. A standard mortgage clause was attached to the policy and a duplicate policy was sent to several mortgagees including the Farmers Home Administration (FHA).

Pr…