• A policy in which the value of the goods, property, or interest insured is specified; -- opposed to open policy.
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http://thinkexist.com/dictionary/meaning/valued_policy/
An insurance policy in which the insurer agrees to pay a claim for a specified amount in the event of loss, damage, etc., for items insured, such as works of art
Found on
http://www.encyclo.co.uk/local/22643
Val'ued pol'i·cy (Fire Insurance) A policy in which the value of the goods, property, or interest insured is specified; -- opposed to
open policy .
Found on
http://www.encyclo.co.uk/webster/V/4
An insurance policy in which the value of the insured item is defined and agreed at the commencement... <a target=_blank href='http://www.finance-glossary.com/terms/valued-policy.htm?id=1509&ginPtrCode=00000&PopupMode=false' title='Read full definition of valued policy'>more</a>
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