What is the definition of Valued policy.? | Dictionary.net

VALUED POLICY.

\vˈaljuːd pˈɒlɪsi], \vˈaljuːd pˈɒlɪsi], \v_ˈa_l_j_uː_d p_ˈɒ_l_ɪ_s_i]\

Definitions of VALUED POLICY.

1856 - A Law Dictionary

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A valued policy is one where the value has been set on the ship or goods insured, and this value has been inserted in the policy in the nature of liquidated damages, to save the necessity of proving it in case of loss. 1 Bouv. Inst. n. 1230.

1856 - A Law Dictionary
By John Bouvier

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