What does Valuation mean? Read on to discover the definition & meaning of the term Valuation - to help you better understand the language used in insurance policies.
Valuation is a financial assessment of the worth of an item. In the context of insurance, valuation refers to giving a dollar figure for assets to be insured. This way both the insured and the insurer know how much money the insurer will give to the insured in the event of a covered loss for the asset.
We hope the you have a better understanding of the meaning of Valuation.