Valued-policy law - definition of Valued-policy law by The Free Dictionary
|1.||(Fire Insurance) 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.|
References in periodicals archive
Shaked said most plaintiffs will probably try to apply valued-policy law
, which plaintiffs in Florida have used to force balky insurers to pay up.