Lycoming Fire Insurance v. Dunmore

That appellee had an insurable interest in the property destroyed, is not contested. It was upon his leasehold interest in a basement room that he had repaired and fitted up at very considerable expense. When finished it was a valuable business room and well located. The policy was for four years, which would cover the entire period the lease had to run. In case of loss by fire within the first year, the company was to pay $2,000, and the policy was on a sliding scale, the amounts lessening as the lease drew to a close. Within the first year the property was totally destroyed by fire. Of this…