Economic Or Use Value
Definition of "Economic or use value"
Property valued according to its earnings potential. However, property insurance contracts generally indemnify an insured on a replacement cost less physical depreciation and obsolescence basis.
Popular Insurance Terms
Employee benefit insurance plan under which an employer pays the entire direct cost of the plan; employees do not share in the cost, except perhaps through comparatively lower wages. ...
Insurance company's promise to insure particular risks. ...
The term elevator collision insurance or elevator liability insurance is included in business liability insurance policies in order to cover potential damages suffered by the elevator or ...
Period of time after the expiration of a claims made basis liability coverage policy during which claims may be made. ...
Insurance policy that is commercial lines in orientation and is composed of two or more of the following coverages: commercial property, business crime, business automobile, boiler and ...
Means of land title registration used in some states that in effect, provides a government sponsored form of title insurance. Under this system, a government official, such as county ...
Branch of knowledge dealing with the mathematics of insurance, including probabilities. It is used in ensuring that risks are carefully evaluated, that adequate premiums are charged for ...
Situation where the United States dollar rises in value in comparison with other foreign currencies resulting in the decrease in the value of the foreign securities. This is due to the fact ...
Instrument that uses noncombustible substances such as carbon dioxide to deprive a fire of oxygen, thereby extinguishing it. ...
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