American Family Mutual Ins. Co. v. Doug Rose, Inc.

SPINDEN, Presiding Judge.

On May 13, 1988, fire extensively damaged several apartment buildings under construction in Liberty. Doug Rose, Inc., (DRI) owned the structures. American Family Mutual Insurance Company had insured the buildings against fire damage, and in this lawsuit it seeks a declaration of the extent of its liability.

The trial court set American Family’s liability at approximately $1.05 million, the cost of repairing the structures. The trial court rejected DRI’s contention that § 379.-1401 required American Family to pay the full face value of the insurance policy, nearly $2.04…