What is Market Value | Insurance glossary by upcover

Market value is a valuation method that values property at the price it would reasonably fetch between a willing buyer and seller in the open market. For insurance, market value takes into account the age, condition, and wear of the property. Market value payouts can be lower than replacement cost for older items.

Related Terms

Sum Insured (Strata)

Market Value Cover (Strata)

Replacement Cost Cover (Strata)

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Related Term

Sum Insured (Strata)

Market Value Cover (Strata)

Replacement Cost Cover (Strata)

All Category

Financial

Legal

Insurance Documents

Fundraising

Employment

Policy

Risk Management

E&O

D&O

Commercial Insurance

Cyber

Compliance

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