Market Value Clause
Definition of "Market value clause"
Provision of property insurance that establishes the amount for which an insured must be reimbursed for damaged or destroyed property according to the price a willing buyer would pay for the property purchased from a willing seller, as opposed to the actual cash value of the damaged or destroyed property.
Popular Insurance Terms
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12-month period from the date of issue of a policy as stated in its declarations section. ...
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