{"data":{"id":"us-ca/ins-1997","jurisdiction":"us-ca","citation":"INS § 1997","heading":"","body":"In the case of a partial loss of a ship or its equipments, the old materials are to be applied towards payment for the new. Whether the ship is new or old, a marine insurer is liable for only two-thirds of the remaining cost of the repairs after such deduction, except that anchors and cannon must be paid for in full, and sheathing metal at a depreciation of only two and one-half per cent for each month that it has been fastened to the ship.","path":["Insurance Code - INS","DIVISION 2. CLASSES OF INSURANCE [1880. - 12880.8.]","PART 1. FIRE AND MARINE INSURANCE [1880. - 10108.1.]","CHAPTER 1. The Marine Contract [1880. - 2010.]","ARTICLE 5. Loss in Marine Insurance [1960. - 1997.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"714b7f467e790b81ffcd7e192af599e03f10e2a93dd0057ba08d0457269dbd7a","source_id":"us-ca","stale":false,"prev":"us-ca/ins-1996","next":"us-ca/ins-2010"},"notice":"GroundRules: Original legal text. Not legal advice."}