Is where a value has been set upon the ships or goods insured, and this value inserted in the policy in nature of liquidated damages, to save the necessity of proving it, in case of a total loss.
·add. ·- A policy in which the value of the goods, property, or interest insured is specified; — op...
Webster's Dictionary of the English Language
·add. ·- A law requiring insurance companies to pay to the insured, in case of total loss, the full ...
·Impf & ·p.p. of <<Value>>. II. Valued ·adj Highly regarded; esteemed; prized; as, a valued contrib...
·noun Civil polity. II. Policy ·noun Motive; object; inducement. III. Policy ·vt To regulate by la...
A written contract, by which the insurers oblige themselves to indemnify sea-risks under various con...
The Sailor's Word-Book
·add. ·- One that covers a group or class of things or properties instead of one or more things ment...
·add. ·- A policy of term insurance. ...
·add. ·- A policy limited to become void at a specified time; — often contrasted with voyage policy...
See policy. ...
Where the amount of the interest of the insured is not fixed by the policy, but is left to be ascert...
An engagement upon interest or no interest; the performance of the voyage in a reasonable time and m...