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Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
38% - Moderately

Valued Marine Policy

Synonyms:cargo coverage, sea vessel insurance, shipping insurance
Filed Under: insurance
Tags: insurance

Definition of valued marine policy

valued marine policy
1. An insurance policy that provides a specified amount of coverage for an insured marine asset, such as the cargo or hull of a ship. The value of the assets are agreed upon in advance, so in the event of a total loss, the insured will generally receive the specified value of the asset without the need to reassess or revalue the asset.

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