valued policy
noun Insurance.
a policy in which the company and the policyholder agree to the amount to be paid in the event of total loss of property, regardless of the value of the property.
Origin of valued policy
First recorded in 1755–65
Words nearby valued policy
value fund,
value judgment,
value-added,
value-added tax,
valued,
valued policy,
valueless,
valuer,
valuer general,
valuta,
valval
British Dictionary definitions for valued policy
valued policy
noun
an insurance policy in which the amount payable in the event of a valid claim is agreed upon between the company and policyholder when the policy is issued and is not related to the actual value of a loss
Compare open policy