Strawbridge v. Standard Fire Insurance

Plaintiff sued upon an insurance policy covering an automobile. The policy insured plaintiff against direct loss or damage by fire to an amount not exceeding $1500 upon one Auburn automobile, factory number 1428, gasoline, four cylinder touring car, model 1910. There was a provision in the policy that:

“This company shall not be liable beyond the actual cash value of the property at the time any loss *689or damage occurs, and the loss or damage shall he ascertained or estimated according to such actual cash value, with proper reduction for depreciation, however, caused.”

The policy was for one year…