Residual value insurance

{
  "id": "MLC-T-INS-002913",
  "term": "Residual value insurance",
  "field": "Insurance and risk management",
  "definition": "A type of insurance that protects an asset owner or lessor against a decline in the market value of an asset below a predetermined amount at a future date. This coverage is particularly relevant for assets with long useful lives and fluctuating market demand, such as aircraft, real estate, or large equipment. The policy guarantees a minimum value, mitigating financial risk for the insured.",
  "url": "https://mlchart.com/terminology/insurance/residual-value-insurance/"
}