2623. Where the contract under which the insured claims is a valued contract, the insured shall give credit as against the valuation for any sum received by him under any other contract without regard to the actual value of the insured property.
Where the contract under which the insured claims is an unvalued contract, the insured shall give credit, as against the full insurable value, for any sum received by him under any other contract.
1991, c. 64, a. 2623; 2016, c. 4, s. 296.