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 material thus becomes "a discursive proxy for valued forms of relationality" (p.
"Given the substantial contribution CRE makes to the economy, to jobs, to regenerating our towns and cities, as well as the security it provides us through pension investment, it is in any Government's interest to promote investment in this sector through appropriate regulation, support and fair taxation." Dr Savvas Savouri, chief economist at Toscafund Asset Management and author of the report, said "CRE takes on varied and economically valued forms across all of the UK and it would be no exaggeration to say that the fortunes of the UK economy turn on a well functioning CRE market.
The great extent to which our employees are valued forms the foundation of our company and is at the heart of our being able to provide exceptional service.”