Valuation Clause(redirected from Valuation Clauses)
Stipulates a fixed sum for insured property in the event of loss when included in a marine cargo insurance policy.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A provision in some insurance policies stating the amount of money the insurer will pay the policyholder if the insured event occurs. That is, the valuation clause states that the insurance company will pay a fixed amount, neither more nor less, under the circumstances described in the policy.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved