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HomeInsurance CodeDiv. 1Pt. 1Ch. 1§ 102 Fire And Property Insurance

§ 102 Fire And Property Insurance

Insurance Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 102 Fire And Property Insurance

This law tells what kinds of things are covered by fire insurance, like damage from fire, lightning, wind, tornado, or earthquake, and lists special rules for papers, money, and personal property.

Key Takeaways

  • •Fire insurance covers loss from fire, lightning, windstorm, tornado, or earthquake.
  • •It also covers important business papers and money, unless they were being shipped by a carrier or the loss was due to forgery or a dishonest act by the insured’s staff.
  • •Personal property floaters cover loss of personal items that aren’t merchandise.
  • •Section 2070 does not apply to the special rules in (b) and (c).

Example

A bakery’s accounting books are destroyed in a kitchen fire.

Because the books are valuable papers used in the bakery’s business, the fire insurance will pay for their loss, as long as the books weren’t being shipped by a carrier at the time.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 102 Fire And Property Insurance

Fire insurance includes: (a) Insurance against loss by fire, lightning, windstorm, tornado, or earthquake. (b) Insurance against loss of, or destruction of, or damage to, any of the following property, when such insurance includes loss thereof by fire and excludes coverage of property while in the custody of, or possession of, or being transported by, any carrier for hire or in the mail: 1. Accounts, books, maps, manuscripts, indexes and other valuable papers, documents and records incidental to the business or profession or activity in which the insured is engaged, resulting from any cause, but excluding any article constituting stock in trade or used as a sample or sold or held for sale. 2. Moneys, stamps, coins, bullion, securities, notes, drafts, acceptances or instruments of like kind or character, resulting from any cause, except: (i) Forgery. (ii) Any dishonest, fraudulent or criminal act of any officer, employee, partner, director, trustee or authorized representative of the insured. (c) Insurance by means of an all-risk policy of the type commonly known as the “Personal Property Floater” against any and all kinds of loss of or damage to, or loss of use of, any personal property other than merchandise. The provisions of Section 2070 shall not apply to insurance written pursuant to subdivisions (b) or (c). (Amended by Stats. 1947, Ch. 630.)

Last verified: January 11, 2026

Key Terms

fire insurancevaluable papersmoneyssecuritiesforgerydishonest acts

Related Statutes

  • § 706.5 Insurer Financial Solvency Requirements
  • § 742.245 Mewa Investment Requirements
  • § 821.5 Securities Definition Expansion
  • § 822 Security Sale Definitions
  • § 833 Security Permit Violations

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Insurance Code. Section 102.
View Official Source