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
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Reductions in the value of property due to physical damage or destruction. ...
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Risk management technique for identifying risks and taking steps to minimize losses. ...
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Type of insurance that provides a single aggregate limit of coverage within the insurance policy terms, thereby limiting the insurance company's liability for a risk transferred to it. The ...
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