Selling Price Clause
Definition of "Selling price clause"
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.
Popular Insurance Terms
Organization following the format of Lloyd's of London. ...
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Same as term Floater: coverage for property which moves from location to location either on a scheduled or unscheduled basis. If the floater covers scheduled property, coverage is listed ...
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