Market Value Clause

Provision of property insurance that establishes the amount for which an insured must be reimbursed for damaged or destroyed property according to the price a willing buyer would pay for the property purchased from a willing seller, as opposed to the actual cash value of the damaged or destroyed property. See also Market Value Vs. Actual Cash Value.

Provision of property insurance that establishes the amount for which an insured must be reimbursed for damaged or destroyed property according to the price a willing buyer would pay for the property purchased from a willing seller, as opposed to the Actual Cash Value of the damaged or destroyed property. See also Market Value v. Actual Cash Value.