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What Is Market Value In Insurance Contract

What Is Market Value In Insurance Contract

Market Value Definition And Meaning

This is determined by the amount at which property of the same age and condition can be bought and sold.

Insurance
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This value takes into account both depreciation due to age and appreciation due to inflation. For determining the sum insured for buildings, apart from excluding the value of land and plinth, the present cost of construction of similar building should be taken and then the depreciation for age and usage deducted.

Insurance Law And Practice - ICSI
What Is Market Value In Insurance Contract What Is Market Value In Insurance Contract Reviewed by Ikpokolo Francis on Monday, May 22, 2017 Rating: 5

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