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Valued policy

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VALUED POLICY. A valued policy is one where the value has been set on the ship or goods insured, and this value has been inserted in the policy in the nature of liquidated damages, to save the necessity of proving it in case of loss. 1 Bouv. Inst. n. 1230.



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Under Louisiana's valued policy law, an insurer must pay the full value of the loss, without deduction or offset, if a valuation was placed on the property and such valuation was used to calculate the premiums, McKenzie said, citing the statute.
water damage, builder's risk, catastrophe fraud, cause and origin of water damage, condominium losses, valued policy law, mold, commercial losses, and more.
More than 25 professional development workshops will discuss such topics as additional living expenses (ALE) mediation, professionalism, catastrophe fraud, condominium losses, wind damage, valued policy law, mold, building codes, business interruption and more.
 
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