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Investments glossary

Valued Marine Policy

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Quotes of the day:

Everyone can get the gold of the Sun. (Tout le monde cueille l\'or du soleil)

— Charles de LEUSSE

A valued marine policy is a type of marine insurance coverage that places a specific value on the insured property, such as the hull or cargo of a shipping vessel, prior to the event of a loss. In the absence of fraud, a valued marine policy will pay the specified value if a loss occurs. It differs from an unvalued, or open, marine policy, in which the value of the property would need to be proven subsequent to a loss through the production of invoices, estimates and other evidence.


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