valued insurance

valued insurance valued insurance insurance

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valued insurance UK US noun [U] (also agreed value insurance, valued policy [C]) INSURANCE
insurance for an amount agreed to by an insurance company at the start of an insurance period, rather than at the time property is lost, etc.

Financial and business terms. 2012.

Look at other dictionaries:

  • valued policy — UK US noun [C] INSURANCE ► VALUED INSURANCE(Cf. ↑valued insurance) …   Financial and business terms

  • insurance — in·sur·ance /in shu̇r əns, in ˌshu̇r / n 1: the action, process, or means of insuring or the state of being insured usu. against loss or damage by a contingent event (as death, fire, accident, or sickness) 2 a: the business of insuring persons or …   Law dictionary

  • insurance — Guarding against property loss or damage making payments in the form of premiums to an insurance company, which pays an agreed upon sum to the insured in the event of loss. Bloomberg Financial Dictionary * * * insurance in‧sur‧ance [ɪnˈʆʊərəns ǁ… …   Financial and business terms

  • Valued-policy law — (Fire Insurance) A law requiring insurance companies to pay to the insured, in case of total loss, the full amount of the insurance, regardless of the actual value of the property at the time of the loss. [Webster 1913 Suppl.] …   The Collaborative International Dictionary of English

  • valued policy law — n: a law requiring insurance companies to pay to the insured in case of total loss the full amount of insurance regardless of the actual value of the property at the time of the loss Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • valued policy — Insurance policy in which a definite valuation is by agreement of both parties put on the subject matter of the insurance and written in the face of the policy and such value, in the absence of fraud or mistake, is conclusive on the parties. One… …   Black's law dictionary

  • valued policy — n: an insurance policy in which the insurer and insured agree on a stated amount that will be paid in the event of a future loss instead of an amount that would have to be proven as the actual loss Merriam Webster’s Dictionary of Law. Merriam… …   Law dictionary

  • Valued policy — Val ued pol i*cy (Fire Insurance) A policy in which the value of the goods, property, or interest insured is specified; opposed to {open policy}. [Webster 1913 Suppl.] …   The Collaborative International Dictionary of English

  • valued policy — Insurance. a policy in which the company and the policyholder agree to the amount to be paid in the event of total loss of property, regardless of the value of the property. [1755 65] * * * …   Universalium

  • Valued Policy Law - VPL — A statute that requires insurance companies to pay the full value of the insurance to an insured entity in the event of a total loss. The Valued Policy Law does not consider the actual value of the insured property at the time of the loss;… …   Investment dictionary

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