Unvalued Marine Policy


Definition of "Unvalued marine policy"

Coverage that does not put a dollar value on a hull or cargo that is insured. A valued marine policy puts a specific value on the insured property. With unvalued property, the value is determined at the time of loss.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Deposit Administration Plan

Unallocated funding instrument for pension plans under which premiums are placed on deposit, and are not currently allocated to the purchase of benefi ...

Credit Card Forgery

Same as term Credit Card Insurance: coverage under a homeowners insurance policy in the event that a credit card is fraudulently used or altered. Frau ...

Contingency Reserve

Percentage of total surplus retained, in insurance company operations, that serves as a reserve to cover unexpected losses as well as to cover the sho ...

Insurance Examiner

Employee of a state insurance department who audits statements of insurance companies to determine their continued solvency. ...

Underwriting Expenses

Salaries plus commissions plus overhead expenses plus office rent plus fees charged for memberships in industry associations and bureaus plus guaranty ...

Cost Of Protection

Same as term Cost of Insurance: value or cost of the actual net protection, in life insurance, in any year (face amount less reserve) according to the ...

Popular Real Estate FAQ

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other water ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- L ...

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your agent\'s help, may speed things along. ...

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of ...

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the prope ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add real estate terms app
on your Website

Real Estate Advice

Spring Landscaping Ideas to Improve Curb Appeal and Sell Your House DIY Home Improvement to Increase Your Home Value Moving Tips: House Relocation Stress Free Increase Your Home Value With These Home Improvement Ideas Down Payment: Everything You Wanted to Know

FAQ

What is an overall debt ratio? What is a conventional mortgage? What is a front-end ratio? What is an amortization? What are discount points?