Fox v. Milwaukee Mechanics' Insurance

A consideration of the questions raised on this appeal requires us to set out the following portions of the Wisconsin standard fire insurance policy:

Sec. 203.01. . . . “In consideration of the stipulations herein named and of-dollars premium does insure- - and legal representatives, to the extent of the actual cash value (ascertained with proper deductions for depreciation) of the property at the time of loss or damage.”

Sec. 203.21, ordinarily known as the Wisconsin valued policy law, provides:

“Whenever any policy of insurance is written to insure real property and the property insured is…