Von Zehner v. Truck Insurance Exchange

*153OPINION

Appellants, Gloria and L. G. Von Zehner, purchased commercial property for $200,000 at a bankruptcy auction in February, 1974. In August, 1974, appellants procured insurance coverage for the property from respondent Truck Insurance Exchange (Truck). This insurance policy was issued through respondent Balch of respondent Schnider Balch Agency and provided for coverage up to $250,000. On August 15, 1974, respondent Durfee leased the premises from appellants and began operating a retail furniture store. The property was subsequently destroyed by fire on October 15, 1974.

In order to…