insurable value

insurable value definition - business

insurable value

Generally the market value of an insured item. For real estate, insurable value is generally the market value or replacement cost of the structure and contents. Land is not part of the insurable value, because it is considered indestructible.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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