California Insurance Code ARTICLE 2 - Types of Policies

• Section 410.
  A policy is either open or valued.(Enacted by Stats. 1935, Ch. 145.)
• Section 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...
• Section 412.
  A valued policy is one which expresses on its face an agreement that the thing insured shall be valued at a specified sum.(Enacted by Stats....
• Section 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,...

Last modified: October 22, 2018