insurable value

Flood insurance is a means of transferring risk to another party for values with insurable value.

Insurable value - is the value of real property covered by an insurance policy.

The originals, whose insurable value is some $2.6 million, have apparently never been heard of since.

The Cost Approach to value is most useful in determining insurable value, and cost to construct a new structure or building.

Borrowers whose collateral property is located in a special flood hazard area must also purchase and maintain flood insurance for the full insurable value of the property for the life of the loan.