Girard Insurance v. Taylor

Plaintiffs issued to defendant Taylor policies insuring him against damage by fire to an apartment building, After a fire had damaged the building, plaintiffs brought this action for judgment declaratory of the rights and legal relations of the parties. Defendant Taylor interposed a counterclaim upon which he has recovered judgment for damages under the policies. Plaintiffs appeal.

Each policy insured respondent ‘ ‘ to the extent of the actual cash value of the property at the time of loss, but not exceeding the amount which it would cost to repair or replace the property with material of like…