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market value clause

A market value clause is a property insurance endorsement or provision establishing market value (rather than actual cash value (ACV) or replacement cost (RC) value) as the valuation basis for covered property.

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market value clause

A market value clause is a property insurance endorsement or provision establishing market value (rather than actual cash value (ACV) or replacement cost (RC) value) as the valuation basis for covered property.

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Usually used in connection with agricultural products and other commodities whose value fluctuates in accordance with a commodities exchange. Also occasionally used as the valuation basis for a building.