market value clause
- A term in an insurance policy that allows for a payout based on the current market value of goods, instead of their cost of manufacturing
- The insured party was relieved to find out that the market value clause in their insurance policy compensated for the current price of the damaged goods.
- The market value clause in their insurance policy proved beneficial when the price of their goods increased over time.
- Due to the fluctuating market rates, some individuals prefer insurance policies with a market value clause.