113 Ky. 88 | Ky. Ct. App. | 1902
Opinion of the court by
Reversing.
It appears from the petition in this case that on the 2d day of March, 1899, the defendant executed and delivered to the plaintiff a policy of insurance wherein defendaht, in consideration of $45 paid to it by the plaintiff, insured the plaintiff for five years from said date, to wit, until March 2, 1904, against loss or damage by fire, to the amount of $i,200 on plaintiff’s three-story brick, metal-roof building, situated at 116 on the south side of Main street, between First and Second streets, in Louisville, Ky., and its additions and connections adjoining. Said policy contained various conditions not necessary to state. It is further alleged that on the-day of February, 1900, said property was partially destroyed by fire, entailing á loss upon plaintiff of $1,000, said sum of money being the actual cash value of the property destroyed. Proper notice, etc., is further alleged. The answer of the defendant denied that plaintiff
The contention of appellee is that the plaintiff now appellant, under the terms of the policy, was a co-insurer in the proportion stated in the pleadings, and that the amount offered ‘to be paid was all that appellant was entitled to collect. It is the contention of appellant that the true intent and meaning of section 700, Kentucky Statutes,requires the insurer’to pay the full amount of the insurance upon which he or it received premium. These questions are argued at considerable length by appellant and appellee. In Insurance Co. v. Cooke, 101 Ky., 412 (19 Rep. 551), (41 S. W., 279), quoting from the syllabus, it is said:. “Under the provisions of the act of May 22,-1803 (section 700, Kentucky Statutes), an insurance company writing a-policy for a certain sum, and collecting the premiums on that sum, will be compelled to pay the full sum for which it issued the policy,, and on which it received the premium, although there may have been inserted in the policy a clause by which it agreed to pay only three-fourths of the value in case of loss.” , In Insurance Co. v. Glasgow Electric Light & Power Co. (107 Ky., 77), (21 K., 726, (52 S. W., 975), it is said in the syllabus: “As to the loss of the real property embraced in the first clause, the companies were properly adjudged to pay the face value of the policy, $2,(100, under the provisions of section 700, Kentucky Statutes, the property being a total loss.” It seems to us that the manifest meaning and intent of section 700, Kentucky Statutes, supra, was to require the insurer to pay the full amount of the insurance upon which