What are these following policies known as if some property insurance - ProProfs Discuss
Topics
Products
Follow Us:

What are these following policies known as if some property insurance policies provide for payment of the full policy limit in the event of a total loss by a covered peril, regardless of the actual value of the property.

This question is part of Practise Exam 1
Asked by Fsspc, Last updated: Jan 18, 2020

+ Answer
Request

1 Answer

fsspc

Fsspc

Answered Oct 13, 2018

Valued or agreed amount policies

For certain hard-to-value items, the insurance company may issue a valued or agreed amount contract for a specified amount agreed to by both parties. If the item is lost or completely destroyed, the insurer will pay this amount as settlement.
 

Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer

Email Sent
We have sent an email to your address "" with instructions to reset your password.