(1) The interest of the insured must be fu stated. (Sec. 4, 10, II.)

(2) To cover certain property or hazard it m be specifically mentioned on the policy (Sec. 25-3 (3) Under certain conditions privileges are n essary to be endorsed on the policy (Sec. 6-18)

(4) There are, however, a few risks the pol does not insure (Sec. 19-24).