Bergren

Plaintiffs' assignor commenced construction of a 30-unit condominium at Lake Tahoe, and secured a standard fire insurance policy from defendant. During construction, a fire damaged the building. Defendant insurer paid plaintiffs the actual cost of physical *275 repair needed to restore the building to its condition at the time of the fire. The owners, however, had borrowed money to finance the original construction. They claimed that their insurance coverage extended to the amount of interest accrued upon the construction loans during the period required for repair.

The policy provides that insurer “does insure the named insured ... to the extent of the actual cash value of the property at the time of the loss, but not exceeding the amount which it would cost to repair or replace the property with material of like kind and quality, . . . without compensation for loss resulting from interruption of business or manufacture, nor in any event for more than the interest of the insured, against all Loss By Fire . ...” A separate provision reads: “This policy insures against all risks of direct physical loss to . .. Buildingfs]....”

The fire caused less than total loss to the…