Continental Insurance v. Chew

The appellee recovered judgment against, appellant upon a fire insurance policy. The premium was $15, payable $3 in cash and $3 annually in advance, a note for the deferred payments being given. The policy provides that the company shall not be liable’for any loss occurring while any part of the premium is overdue and unpaid. The note contains a provision of the same import.

*331It is well settled that provisions of this kind are valid and enforceable, and that under them the failure to pay the premium when due is a sufficient defense to an action upon the policy to recover for a loss happening…