Murphy v. State Farm Fire & Casualty

Illinois Appellate Court
Civil Court
Case Number: 
2012 IL App (1st) 112143
Decision Date: 
September 28, 2012
1st Dist.
Cook Co.,1st Div.
Reversed and remanded with directions.
Plaintiffs were owners of a multi-unit residential building which had been vacated; contract for demolition of building had been signed but demolition had not begun when fire caused extensive damage to building. Plaintiffs had insurable interest at time of fire in building; insurable interest is determined at moment of loss, not by speculating about future, uncertain events. Six months passage of time since signing of demolition contract supports Plaintiffs' testimony that they were uncertain as to whether to demolish building. (KARNEZIS and ROCHFORD, concurring.)