market value clause

Definition of "market value clause"
  1. 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
How to use "market value clause" in a sentence
  1. 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.
  2. The market value clause in their insurance policy proved beneficial when the price of their goods increased over time.
  3. Due to the fluctuating market rates, some individuals prefer insurance policies with a market value clause.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z