A valued marine policy states an agreed valuation for the insured interest subject to its contractual and legal framework.
The distinction that matters
An agreed valuation does not establish that every loss pays the full amount or remove excluded perils.
What to check
- Check the insured interest.
- Review partial and total-loss provisions.
- Read limits and exclusions.
Example to discuss
An exporter checks partial damage settlement rather than applying the agreed total value to every claim.
This is a hypothetical comparison, not a customer claim or a determination of cover.
Sources and further reading
General information only. The policy, schedule and applicable rules determine the actual position. For a personal decision, use an appropriately qualified adviser or the relevant provider.