what is a valued marine policy 
a valued marine policy is a type of marine insurance coverage that places a specific value on the insured property such as the hull or cargo of a shipping vessel prior to a claim being made in the event of a loss a valued marine policy will pay a specified pre determined amount provided of course that there are no traces of fraud a valued marine policy differs from an unvalued or open marine policy under that type of coverage the value of the property would need to be proven subsequent to a loss through the production of invoices estimates and other evidence 