Motorists Mutual Insurance Co. v. Richmond

CLAYTON, Judge.

Motorists Mutual Insurance Company (Motorists) appeals from a judgment of the Whitley Circuit Court awarding Linda Durham Richmond, her infant children and her mortgagee, Farmers National Bank, a total sum of $29,000.00 under the terms of a fire *480insurance policy issued by Motorists to Richmond on January 12, 1982. The sole question on appeal is whether the appellees had an insurable interest in the insured property at the time of issuance of the policy and the time of the loss. We believe that they did and affirm the decision of the circuit court.

In May of 1964, Richmond…