What does Agreed Value Condition mean? Read on to discover the definition & meaning of the term Agreed Value Condition - to help you better understand the language used in insurance policies.
Agreed Value Condition
Condition found in some property insurance policies that stipulates a certain value that will meet the coinsurance requirement; if the policy limit equals or exceeds this amount, the insured will not be assessed a coinsurance penalty; also called stated amount condition.
We hope the you have a better understanding of the meaning of Agreed Value Condition.