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.]

---

词条贡献者

译员Terris，毕业于国内一流的高级翻译学院，擅长翻译有关文旅和酒店领域的法律文件。