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Ruter v. Northwestern Fire and Marine Insurance Co.

Decided: March 1, 1962.

LENA RUTER, PLAINTIFF-APPELLANT,
v.
NORTHWESTERN FIRE AND MARINE INSURANCE CO., ET AL., DEFENDANTS-RESPONDENTS



Freund, Foley and Sullivan. The opinion of the court was delivered by Sullivan, J.A.D.

Sullivan

[72 NJSuper Page 468] This appeal involves the construction of certain fire insurance policies and replacement cost

endorsements issued to plaintiff by defendant insurance companies.

The case was submitted to the trial court by crossmotions for summary judgment on the following stipulation:

"The following facts are presently stipulated in this cause by the attorneys for the parties herein:

1. That the plaintiff was the owner and insured, and the defendants were the insurors of property owned by the plaintiff at 209 East Main St., Bound Brook, New Jersey, on February 25, 1959.

2. That the defendants were insurors in the following proportions:

Northwestern Fire and Marine Insurance

Company $20,000.00 -- Policy #65004.

Central Mutual Insurance Company

$14,000.00 -- Policy #138164.

National Union Fire Insurance

Company $14,000.00 -- Policy #1620801.

3. That on February 25, 1959, the said premises were partially destroyed by fire.

4. That the whole loss or damage to the property in question amounted to $36,548.99, which figure included depreciation in the amount of $3,324.26.

5. That the sum of $33,224.73 was made payable immediately upon submission of proofs of loss, and was paid.

6. That the balance of $3,324.26 would be payable upon the assured's compliance with the replacement cost endorsement on said policies.

7. That the premises were sold in the burned condition to a third party in August, 1959, and was rebuilt and replaced by the purchaser. The construction was completed in December, 1959, ...


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