A valuable maritime policy is a type of insurance coverage in which a certain value of maritime property is determined before a claim is made.
In the event of a loss, the assessed marine policy will pay a certain, predetermined amount.
This means that if the value of the insured item depreciates, this will not affect the amount that can be claimed in the event of total loss, and vice versa.
Valuable maritime policies are different from unvalued maritime policies, which assess the value of property and damage only after the insured files a claim.