Scheetz v. IMT Ins. Co.(Mut.)

REYNOLDSON, Chief Justice.

In this case of first impression, we determine the applicable limitation period for a fire loss claim after the insurer has waived the one-year suit limitation provision of its standard fire policy.

The record before us reflects that defendant IMT Insurance Company had insured the Cedar Rapids house involved in this controversy since 1966. It was damaged or destroyed by fire December 18, 1974. An $8000 homeowner’s insurance policy issued by IMT contained the following provision: Iowa Code section 515.138 requires that the above provision be contained in a fire policy-

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