Pierce v. Farm Bureau Mutual Insurance Co.

LAVORATO, Justice.

Farm Bureau Mutual Insurance Company issued a homeowners policy to Larry L. and Jeri L. Pierce. One of the provisions in the policy provided dwelling replacement cost coverage for property damaged or destroyed by fire under certain conditions. The policy specified a time frame for making a claim under this provision after the insureds suffered a covered loss. Fire damaged the Pierces’ lake dwelling. At the Pierces’ request, Farm Bureau extended the claim filing deadline so the Pierces would have more time to make their claim.

The Pierces found a substitute dwelling which was…