2014 Virginia Code
Title 38.2 - Insurance
§ 38.2-2104. Standard insuring agreement for fire insurance policies

A. Each policy shall provide space for listing amounts of insurance, rates, and premiums for the coverages provided in the policy and endorsements attached to the policy, and shall show the location of the agency and the name and location of the insurer issuing the policy. Except as provided in § 38.2-2107, each policy shall contain the following insuring agreement:

In consideration of the provisions and stipulations herein or added
hereto and of the premium above specified, this Company for the term of…
..........................…..…At 12:01 A.M. .....…At
12:01 A.M. .....…
from .....… (Standard Time) to .....… (Standard
Time) at location of property involved, to an amount not exceeding the
amount(s) above specified, does insure.................................…
and legal representatives, to the extent of the actual cash value of the
property at the time of loss, but not exceeding the amount which it would
cost to repair or replace the property with material of like kind and
quality within a reasonable time after such loss, without allowance for any
increased cost of repair or reconstruction by reason of any ordinance or
law regulating construction or repair, and without compensation for loss
resulting from interruption of business or manufacture, nor in any event
for more than the interest of the insured, against all direct loss by fire,
lightning and by removal from premises endangered by the perils insured
against in this policy, except as hereinafter provided, to the property
described hereinafter while located or contained as described in this
policy, or pro rata for five days at each proper place to which any of the
property shall necessarily be removed for preservation from the perils
insured against in this policy, but not elsewhere.
Assignment of this policy shall not be valid except with the written
consent of this Company.
This policy is made and accepted subject to the foregoing provisions and
stipulations and those hereinafter stated, which are hereby made a part of
this policy, together with such other provisions, stipulations and
agreements as may be added hereto, as provided in this policy.

B. No change shall be made in the sequence of the words and paragraphs of the insuring agreement except that additional matter relating to the coverage provided under the policy and supplemental contracts or extended coverage endorsements may be inserted following any paragraph. The additional matter shall not be inconsistent or in conflict with the standard provisions for policies set out in this chapter, and shall conform with other applicable laws relating to the regulation of fire insurance.

C. For the purpose of more accurate identification of the subject matter or more accurate reference to other provisions, substitutions may be made in the standard insuring agreement for the words "above specified," "hereinafter," or other similar terms; but no substitution shall be made if the purpose and intent of the contract is changed by the substitution.

Code 1950, §§ 38-186, 38-190; 1950, pp. 994, 995; 1952, c. 317, §§ 38.1-365, 38.1-367; 1986, c. 562.