§ 410 A policy is either open or valued.
§ 411 An open policy is one in which the value of the subject matter is not …
§ 412 A valued policy is one which expresses on its face an agreement that …
§ 413 A running policy is one which contemplates successive insurances, and …

Terms Used In California Codes > Insurance Code > Division 1 > Part 1 > Chapter 4 > Article 2 - Types of Policies