{"schemaVersion":1,"recordType":"legal-article","id":"law:eri:code:civil:2015:article:2658","workId":"law:eri:code:civil:2015","expressionId":"law:eri:code:civil:2015:en","title":"Definition","number":"2658","language":"en","canonicalUrl":"https://eriatlas.com/law/civil-code-2015/article/2658/","hierarchy":{"book":"BOOK VI - SPECIAL CONTRACTS","title":"TITLE V- ALEATORY CONTRACTS","chapter":"Chapter 2. - Insurance","section":"Section 3. - Insurance against Damages","paragraph":"Paragraph 1. - Property Insurance"},"paragraphs":[{"id":"p1","number":"1","text":"A contract for property insurance is a contract of indemnity under which the insurer agrees to indemnify the insured if a specified risk of loss or damage to the property covered by the policy materializes.","canonicalUrl":"https://eriatlas.com/law/civil-code-2015/article/2658/#p1","sourceTargets":[{"sourceId":"civil-code-2015-en","pdfPage":734,"url":"https://eriatlas.com/sources/civil-code-2015/page/734/?article=2658&paragraph=p1#article-2658-p1"}]},{"id":"p2","number":"2","text":"The insurer’s obligation to indemnify shall not exceed the lower of the market or insured value of the property covered by the policy on the day the loss or damage occurs.","canonicalUrl":"https://eriatlas.com/law/civil-code-2015/article/2658/#p2","sourceTargets":[{"sourceId":"civil-code-2015-en","pdfPage":734,"url":"https://eriatlas.com/sources/civil-code-2015/page/734/?article=2658&paragraph=p2#article-2658-p2"}]}],"caution":"This is the 2015 English-language edition attributed in its front matter to the Ministry of Justice. Eri Atlas has not independently verified the translation, later changes, or whether the text is currently in force. Nine passages are incomplete in the available scan and are identified where they occur."}