Sentences with valued policy
val·ued pol·i·cy
V v - With a valued policy, the insurer pays a specified amount of money to or on behalf of the insured upon the occurrence of a defined loss.A valued policy pays a specified sum not related in any way to the extent of the loss.A valued policy is an insurance policy in which the amount payable for a claim is agreed upon when the policy is issued, and is not related to the actual value of a loss.