Brock v. Dwelling House Insurance

The policy upon which suit is brought contains the following provisions:

“ This company shall not be liable beyond the actual cash value of the property at the time any loss or damage occurs, and the loss or damage shall be ascertained of estimated according to such actual cash value, with proper deduction for depreciation, however caused, and shall in ¡no event exceed what it would then cost the insured to repair or replace the same with material of like kind and quality. Said ascertainment or estimate shall be made by the insured and this company, or, if they differ, then by appraisers, as…