What does Market Value Policy mean? Read on to discover the definition & meaning of the term Market Value Policy - to help you better understand the language used in insurance policies.
Market Value Policy
Type of homeowners insurance policy that allows for the settlement of a claim on the basis of the assessed market value of the property and not its higher actual cash value (replacement cost less depreciation and obsolescence). See also actual cash value policy and replacement cost policy.
We hope the you have a better understanding of the meaning of Market Value Policy.