DIVISION 2. CLASSES OF INSURANCE 1880-12880.6›PART 1. FIRE AND MARINE INSURANCE 1880-10108.1›CHAPTER 1. The Marine Contract 1880-2010›ARTICLE 5. Loss in Marine Insurance 1960-1997
§ 1962
California Insurance Code · 2020-11 edition · updated 2026-10-04 · California
An actual total loss is caused by:
(a) A total destruction of the subject matter of insurance.
(b) The loss of the subject matter by sinking, or by being broken up.
(c) Any damage to the subject matter which renders it valueless to the owner for the purposes for which he held it.
(d) Any other event which entirely deprives the owner of the possession, at the port of destination, of the subject matter.
(Enacted by Stats. 1935, Ch. 145.)
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