Horn v. Atlas Assurance Society

Opinion op the Court by

Stanley, oCommissioner

Reversing-.

The opinion involves the construction of the insurance valuation statute in its relation to a clause in a policy providing that, upon destruction of the property, the insurance company might elect at its option to rebuild it instead of paying the stipulated sum of money.

The appellant, Horn, carried a policy for $1,500 on certain property with the appellee, Atlas Assurance Company, Limited. It was totally destroyed by fire, and he had an estimate made of the loss, which was submitted as the price of rebuilding it, $1,061. The company ’s…