A type of insurance coverage that places a specific value on the insured property, such as the hull or cargo of a shipping vessel. A valued marine policy pays up to, the specified value in the event of a total loss.
On the basis of value of the insured subject matter Valued Policy: A type of insurance coverage that places a specific value on the insured property, such as the hull or cargo of a shipping vessel. A valued marine policy pays up to, the specified value in the event of a total loss.