Many inland marine items are hard to value after a loss, such as fine art or a one-of-a-kind antique. So inland marine forms often use special valuation provisions.

Valued policy vs. open policy, as California defines them: - Valued policy (§412): expresses on its face an agreement that the thing insured is valued at a specified sum. A painting agreed at $80,000 is paid at $80,000 after a total fire loss, even if an expert says it would have sold for $65,000. - Open policy (§411): the value is not agreed upon and is left to be ascertained in case of loss. Do not confuse open policy, which is about how value is set, with open perils, which is about which causes of loss are covered. A floater can be open perils and still be a valued policy.

Pair or set clause: when one item of a pair or set is lost, the insurer may restore the pair or pay the difference between the value before and after the loss. Earrings worth $6,000 as a pair, with the remaining earring worth $1,500, produce a $4,500 payment, not half of the pair's value.

Goods in transit: shipped goods have a documented price, so transit policies commonly value them at the invoice amount plus any prepaid freight or other charges. If there is no invoice, forms usually fall back on a value such as actual cash value or market value at destination.