What Does Valuation of Potential Property Loss Mean?

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

Valuation of Potential Property Loss

Valuation of Potential Property Loss

A valuation of potential property loss is a risk management strategy that determines the potential financial costs that could result from property loss. It depends on such factors as the initial purchase price, its current market value, depreciation, tax appraised value, and replacement cost. The latter often offers the best indication of the degree of potential loss to be insured.

We hope the you have a better understanding of the meaning of Valuation of Potential Property Loss.

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