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valued policy. In DICTIOUS you will not only get to know all the dictionary meanings for the word
valued policy, but we will also tell you about its etymology, its characteristics and you will know how to say
valued policy in singular and plural. Everything you need to know about the word
valued policy you have here. The definition of the word
valued policy will help you to be more precise and correct when speaking or writing your texts. Knowing the definition of
valued policy, as well as those of other words, enriches your vocabulary and provides you with more and better linguistic resources.
English
Noun
valued policy (plural valued policies)
- (fire insurance) A policy in which the value of the goods, property, or interest insured is specified.
Usage notes
- The opposite is an open policy.
- A valued-policy law is 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.