Under a marine insurance policy that covers a ship as the insured property (hereinafter referred to as a "ship insurance policy" in this Chapter), the value of the ship at the time of commencement of the insurance period constitutes the insured value.
ship
「船舶」
In the part on maritime commerce (except Article 747), a ship used for navigation for the purpose of commercial transactions (商行為), other than rowboats and other boats driven only or mainly by oars.
Defined inArticle 684, paragraph (1)
marine insurance policy
「海上保険契約」
A non-life insurance contract (損害保険契約) under which an insurer that underwrites insurance as a business promises to cover loss that may arise from an accident in connection with a voyage.
Defined inArticle 815, paragraph (1)· applies only in this chapter
ship insurance policy
「船舶保険契約」
A marine insurance policy (海上保険契約) whose insured object is a ship.
Short name set inArticle 818, paragraph (1)· applies only in this chapter