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valued-policy law

2 senses · Free VividLex dictionary · Thesaurus

1. A law requiring insurance companies to pay to the insured, in case of total loss, the full amount of the insurance, regardless of the actual value of the property at the time of the loss. Source: webster
2. A law requiring insurance companies to pay to the insured, incase of total loss, the full amount of the insurance, regardless ofthe actual value of the property at the time of the loss. Source: adambom

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From the definitions

insurance loss value actual amount companies full insured law pay property regardless requiring time total case incase

Word family

value-added tax value-components value-judgements value-judgments value-orientations value-positions value-system

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