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
Affiliate of the national association of life underwriters (NALU) that supports legislators in the interest of the insurance agents. One becomes a member of LUPAC through a monetary ...
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Coverage for damage to a building or its contents due to the weight of these elements. Outdoor property such as patios, swimming pools, and sidewalks are usually excluded. ...
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