P. Insurance LOSS VALUATION
(3)
Loss Valuation
To be insurable, an item’s insurable value must be measurable. Thus, every property insurance policy includes a valuation provision that states how the value of covered property will be determined.
Commonly used valuation methods are:
replacement cost
functional replacement cost
actual cash value (ACV)
market value
stated amount
agreed value
To be insurable, an item’s insurable value must be measurable. Thus, every property insurance policy includes a valuation provision that states how the value of covered property will be determined.
Commonly used valuation methods are:
replacement cost
functional replacement cost
actual cash value (ACV)
market value
stated amount
agreed value
Employee Training
insurance
wa state
valuation
Recommended age: 16 years old
13 times made
Created by
Bob Kazamakaz
United States
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