valued policy

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val·ued policy

 (văl′yo͞od)
n.
An insurance policy requiring the insurer to pay the insured the full face value of the policy in the event of total loss, regardless of the actual value of the lost property.

valued policy

n
(Insurance) an insurance policy in which the amount payable in the event of a valid claim is agreed upon between the company and policyholder when the policy is issued and is not related to the actual value of a loss. Compare open policy
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References in periodicals archive ?
The growth in call volume works well with local business' sentiment towards calls, with SMBs naming them the most valued form of incoming leads according to BIA/Kelsey's Local Commerce Monitor(TM) survey.
Paper cutting is a valued form of Japanese folk art--many Notan pieces are collaged, not painted.
In another persepective on delivering education, two seasoned veterans at the Air Command and Staff College, Kathleen Mahoney-Norris and John Ackerman, take us through how the college's distance learning experience is an increasingly accepted and valued form of delivering high-quality graduate military education to warriors around the world.
Beautiful writing, as the word calligraphy means according to its Greek origins, is a highly valued form of art in many cultures around the globe and especially in the Arab world.
As employees struggle with money worries and the cost of rising bills, a company-paid Healthplan is a welcomed and valued form of support, whilst helping employers to maintain a happy and healthy workforce.
As with all medals and ribbons, these have little material value but the sacrifice, service, and valor that they represent are the most valued form of recognition among Soldiers.
As state and federal decision-makers realize the benefits offered by compacts, they are likely to continue to be an increasingly used and valued form of interstate cooperation.