Insurable value is defined as:

Question

Quizplus · Accepted Answer

Insurable value refers to the amount of an asset for which an insurance company will issue a policy. It is the maximum amount that an insurer will pay in case of damage or loss of the insured asset. So, option A is the correct choice. Option B is incorrect because insurable value refers to only the value of the asset being insured, not the entire property. Option C is incorrect because the value of historical significance is not related to insurable value. Option D is incorrect because insurable value is not related to any fees that a business would have to pay.

Insurable Value Is Defined As