ARTICLE 2. Types of Policies [410. - 413.]

Article 2 enacted by Stats. 1935, Ch. 145.

§§ 410–413 · 4 sections

• § 410 A policy is either open or valued.
• § 411 An open policy is one in which the value of the subject matter is not agreed upon, but is left to be ascertained in case of loss.
• § 412 A valued policy is one which expresses on its face an agreement that the thing insured shall be valued at a specified sum.
• § 413 A running policy is one which contemplates successive insurances, and which provides that the object of the policy may be from time to time defined, especially…