Valuation Of Potential Property Loss
Definition of "Valuation of potential property loss"
Risk management technique that evaluates property exposures preparatory to managing the risk. Although risk managers consider the original cost, depreciation, market value, and tax-appraised value of property, replacement cost is the most helpful in determining the value of the property, giving the truest indication of the degree of the exposure to be insured or otherwise financed.
Popular Insurance Terms
Section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...
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Rate not subsequently adjusted. The rate stays in effect regardless of an insured's subsequent loss record. ...
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