Selling Price Clause

Definition of "Selling price clause"

Heather Milling
  Weichert, Realtors - Roxbury

Property insurance coverage available to businesses that pays the established market (sales) value of products that are damaged rather than simply their lower (production) cost. This fills the gap between actual cash value, which provides coverage only for the cost to the insured, and business interruption insurance. For manufacturers, it covers the cost of all finished goods; for mercantile firms, it applies only to goods that have been sold but are not yet delivered.

Search Real Estate Glossary

Related Real Estate Glossary terms

Related Real Estate FAQ