U.S. Supreme Court
Insurance Company v. Stinson, 103 U.S. 25 (1880)
Insurance Company v. Stinson
103 U.S. 25
l. The owner of the equity of redemption has an insurable interest equal to the value of the buildings on the land.
2. A party having a mechanic's lien on buildings by him erected on land then covered by mortgage has an insurable interest, limited only by their value and the amount of his claim. His discontinuance of his suit to enforce the lien after their destruction is not matter of defense to his action on the policy.
The facts are stated in the opinion of the Court. chanroblesvirtualawlibrarychanroblesvirtualawlibrary