Papandrou v. Caledonian Insurance

The policies in the Commonwealth and Hartford companies were taken out at the time when the property insured was mortgaged by the plaintiff to the Manchester Federal Savings and Loan Association to secure a loan of eleven hundred dollars. Each policy was in the amount of five hundred and fifty dollars, was payable under the standard New Hampshire union mortgage clause to the mortgagee “as interest may appear,” permitted other insurance “but total insurance, including this policy, limited to SI,100.00 on said building,” and provided that “if . . . the insured, at the time of any loss, has any…