What does broad evidence rule mean?

broad evidence rule meaning in Insurance Dictionary

A valuation guideline who has evolved in some says and does not adhere to the principle the conventional way of measuring cash worth (ACV) (replacement price less depreciation) could be the only way of measuring price at the time of reduction. This rule offers up the study of every standard of worth having a bearing on the property in mind, like the chronilogical age of the house, the profit likely to accrue from the home, and the residential property's tax worth. In The End, it demands the selection of that "value," which, in case of a complete loss, offer full indemnification and no much more.

broad evidence rule meaning in Law Dictionary

rule permitting a wide scope of information to be used in deciding the ACTUAL MONEY worth of property that's been damaged or damaged and that will be subject to a CLAIM under an INSURANCE agreement. Any proof which considered another representation of worth is admissible.

broad evidence rule meaning in Business Dictionary

Rule placed on determining the actual cash value of lost property. Under this guideline, any research towards value of that in considered admissible. The item's worth can be dependant on any ensures that accurately depicts its true worth.