MLchartDataset catalogue

Valued coverage

Term · Insurance and risk management · MLC-T-INS-003463

An insurance policy where the insurer and the policyholder agree on the value of the insured property at the time the policy is issued, and this amount is paid in the event of a total loss. This differs from actual cash value or replacement cost coverage, where the value is determined after a loss occurs. Valued policies are often used for unique items like antiques, fine art, or classic cars.

Table 1. Record
IdentifierMLC-T-INS-003463
FieldInsurance and risk management
SubjectPersonal Lines
Record as JSON 
{
  "id": "MLC-T-INS-003463",
  "term": "Valued coverage",
  "field": "Insurance and risk management",
  "definition": "An insurance policy where the insurer and the policyholder agree on the value of the insured property at the time the policy is issued, and this amount is paid in the event of a total loss. This differs from actual cash value or replacement cost coverage, where the value is determined after a loss occurs. Valued policies are often used for unique items like antiques, fine art, or classic cars.",
  "subject": "Personal Lines",
  "url": "https://mlchart.com/terminology/insurance/valued-coverage/"
}

Record 3,541 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.