valued coverage
Valued coverage is property coverage that provides for payment of a stipulated dollar amount (rather than the actual cash value or replacement cost of the property) in the event of total loss.
valued coverage
Valued coverage is property coverage that provides for payment of a stipulated dollar amount (rather than the actual cash value or replacement cost of the property) in the event of total loss.
Additional Information
Fine arts coverage is often written on a valued basis. Some states have valued policy laws, which require that fire insurance on buildings be treated as valued coverage in the event of a total loss.
