ORS 742.206
Insuring agreement

A fire insurance policy shall contain provisions as follows: “In consideration of the provisions and stipulations herein or added hereto and of _____ dollars ($_____) premium this company, for the term of _____ from the _____ day of _____, 2___, to the ___ day of _____, 2___, at 12:01 a.m., at location of property involved, to an amount not exceeding _____ dollars ($_____), 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 hereby are made a part of this policy, together with such other provisions, stipulations and agreements as may be added hereto, as provided in this policy.
“In witness whereof, this company has executed and attested these presents.
[Formerly 743.609]

(formerly 743.609)

Notes of Decisions

Fire Insurance Policy Terminates At 12

01 a.m. on last date of coverage regardless of whether policy included this provision or whether insured received policy “jacket” containing provision. Cambron v. North-West Ins. Co., 70 Or App 51, 687 P2d 1132 (1984), Sup Ct review denied

Last accessed
May. 15, 2020