valued policy law

valued-policy law. A statute requiring insurance companies to pay the full amount of the insurance to the insured in the event of a total loss, regardless of the true value of the property at the time of loss. [Cases: Insurance 2171. C.J.S. Insurance §§ 1108–1109, 1204.]

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词条贡献者

资深译员Steven，毕业于美国一流的高级翻译学院，专注翻译各种与政府政策有关的法律文件。