valuation
Valuation is a provision in a property or inland marine policy that specifies the basis of indemnification when property is destroyed.
valuation
Valuation is a provision in a property or inland marine policy that specifies the basis of indemnification when property is destroyed.
Additional Information
An actual cash value valuation clause stipulates that the insurer will deduct depreciation from the cost to replace the property, whereas a replacement cost valuation clause stipulates that there will be no deduction for depreciation.
