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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Rating system under which a specific premium rate, rather than a manual or class rate, is assigned to each unit of exposure. ...
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Soliciting of customers for the purchasing of an insurance product. ...
Death from other than accidental means. ...
Federal legislation that established the old age survivors, disability, and health insurance (OASDHI). ...
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