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What is Agreed Value Assessment?

These are studies conducted to determine the new replacement and/or current values ​​of assets within the scope of insurance based on certain laws and regulations. Afterwards, a report is prepared by the expert and the phrase “arranged according to the agreed value principle” is added to the policy. For insured values ​​such as buildings, fixed installations, machinery, fixtures, decorations and household goods (excluding commercial goods), the value is determined by experts to be assigned with the mutual consent of the insurer and the insured; if a contract is made based on this value, an agreed value assessment is in question. In this case, the parties cannot object to this value in the event of Losses that will occur as of the date of the report. This value is valid for a maximum of 1 year. During this period, it is also possible to make new assessments for various reasons.