English version

agreed-value insurance

From Longman Business Dictionary
Related topics: Insurance
agreed-value insuranceˌagreed-ˈvalue inˌsurance [uncountable]INSURANCE insurance against total loss of property or CARGOes where the amount insured is agreed at the start of the period of insurance, rather than calculated after a claimAll our policies for sailboats are based on agreed-value insurance, and in the event of a total loss we would pay the sum insured - not the current market value as in motor insurance. insurance
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