Scrap Value

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What does Scrap Value mean? Read on to discover the definition & meaning of the term Scrap Value - to help you better understand the language used in insurance policies.

Scrap Value

Scrap Value

1. Accounting: Market or sale price of the material content of a scrap.

More Insurance Terms And Definitions

The Merriam-Webster Dictionary defines insurance as:

a: The business of insuring persons or property.

b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.

c: The sum for which something is insured.

We hope the you have a better understanding of the meaning of Scrap Value. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for:

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