Does an insurance company have a right to limit the coverage of a policy issued by it?

In Bohrn v. State Farm etc. Ins. Co., supra, appellant argues [226 Cal.App.2d, at p. 500, 38 Cal.Rptr. 77] that an insurance company has the right to insure and select its risks and to decline risks. The court said (id.) that such proposition can be accepted generally as a correct statement of law, and that an insurance company has the right to limit the coverage of a policy issued by it. The court then said (p. 501, 38 Cal.Rptr. p. 79): 'However, any such linitation must conform to the law; if contrary to public policy it is void.'