Statute · California Insurance Code
Cal. Ins. Code § 2058 — Measure of Indemnity
Cal. Ins. Code § 2058
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Notwithstanding any other provision of law, if a loss arising out of fire is rebuilt or replaced, an insured covered by a valued policy shall receive full payment for the loss up to the face amount of the policy. If the loss is not rebuilt or replaced, an insured covered by a valued policy shall…
Citator
Cal. Ins. Code § 2058 — Measure of Indemnity is in force in the current edition of the Code, and nothing recorded condemns it.
Notwithstanding any other provision of law, if a loss arising out of fire is rebuilt or replaced, an insured covered by a valued policy shall receive full payment for the loss up to the face amount of the policy. If the loss is not rebuilt or replaced, an insured covered by a valued policy shall receive either the replacement value of the loss or the face amount of the policy, whichever is less. As used in this section, “valued policy” has the meaning set forth in Section 412.
This section applies only to valued policies issued or renewed on and after July 1, 1992.