2519. In insurance on ship, the insurable value is the value of the ship plus the money advanced for seamen’s wages and any other disbursements incurred to make the ship fit for the voyage or adventure contemplated by the policy.
In insurance on freight, whether paid in advance or otherwise, the insurable value is the gross amount of the freight at the risk of the insured; in insurance on goods, the insurable value is the cost price of the goods plus the expenses of and incidental to shipping.