Valued Policy Law and Legal Definition
Valued policy is a policy of insurance in which the value of the subject matter insured is fixed by agreement and stated in the policy.
“In a valued insurance policy the value of the subject matter is agreed upon beforehand. If there is anything in the policy that clearly indicates an intention on the part of the insurer to value the risk and loss, in whatever words expressed, the policy is valued.” [American Ins. Co. v. Gentile Bros. Co., 109 F.2d 732, 735 (5th Cir. Fla. 1940)].
