valued policy
noun
: an insurance policy in which the insurer and insured agree on a stated amount that will be paid in the event of a future loss instead of an amount that would have to be proven as the actual loss
Cite this Entry
“Valued policy.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/valued%20policy. Accessed 31 Oct. 2025.
Copy CitationLove words? Need even more definitions?
Merriam-Webster unabridged
Share