Broad evidence rule

Broad evidence rule,

Definition of Broad evidence rule:

  1. The broad evidence rule is used by insurance companies to determine the dollar amount to be paid out to the insured in the event of a claim. As opposed to using the traditional actual cash value approach of replacement cost minus depreciation, the broad evidence rule can take into account many factors, including market value, original cost, replacement cost, age and condition of the property, location, frequency of use, durability of the item, assessed value, number of users in the household or business, offers to sell, offers to purchase, and rarity. Because of this, each actual cash value determination must be assessed on a claim-by-claim basis.

  2. The broad evidence rule outlines the guidelines that insurers must go about in determining the value of lost, stolen, or damaged property. It does not specify any one method to value any one piece of property, only that the method which most accurately represents the true cash value of the property should be used. The broad evidence rule means that all facts and circumstances that bear on the value of property can be considered.

  3. Rule applied to calculating the actual cash value of lost property. Under this rule, any evidence about the value of the item in considered admissible. The items value can also be determined by any means that accurately depicts its true value.

Meaning of Broad evidence rule & Broad evidence rule Definition

Broad Evidence Rule,

Broad Evidence Rule:

  • Broad Evidence Rule can be defined as, The pricing rules that have been developed in some states do not contradict the principle that the actual cost of delivery at the time of lost sale (ACV) (alternative cost minus depreciation) is the price only. This rule reviews all pricing standards that affect property, such as the age of the property, the income earned from the property, and the amount of property tax. Ultimately, this requires a choice of value, which is fully compensated in the event of a complete shutdown and nothing more.

Literal Meanings of Broad Evidence Rule

Broad:

Meanings of Broad:
  1. A woman.

  2. Make sure there is enough space between the sides.

  3. It covers a large number and variety of topics or fields.

  4. General without details

  5. A little rude and obscene.

  6. Very clear and strong (with regional pronunciation).

Sentences of Broad
  1. Wide stairs

  2. Diverse experiences

  3. A review of NATO's position

  4. What we consider broad or even obscene is a fact of nature for him

  5. Its broad Bronx accent

Synonyms of Broad

comprehensive, non-specific, filthy, off colour, ribald, adult female, lady, loose, woolly, gross, unfocused, hazy, racy, rough, indelicate, general, dirty, all-embracing, vague, unrefined, indecent, unspecific

Evidence:

Meanings of Evidence:
  1. Be proof or show.

  2. A collection of available facts or information that indicates whether a belief or statement is true or false.

Sentences of Evidence
  1. It has been inhabited since ancient times and evidence of colonial buildings has been found

  2. The study found almost no evidence of indirect discrimination.

Synonyms of Evidence

manifest, verification, confirmation, affirmation, reveal, authentication, proof, exhibit, evince, show, substantiation, be evidence of, display, attestation, signify, denote, corroboration, documentation, indicate

Rule:

Meanings of Rule:
  1. Exercising maximum power or authority over (an area and its inhabitants)

  2. Talk to the authorities and the law.

  3. Draw parallel lines (paper)

  4. Any clear or understood principle or set of principles that governs behavior in a particular activity or sphere.

  5. Control or dominate an area or people.

  6. Normal or normal condition.

  7. A piece of wood or other hard material used to measure length or to mark straight lines on a ruler.

  8. An order issued by a judge or court that refers only to a particular case.

Sentences of Rule
  1. The area is now managed by elected officials.

  2. Place the page horizontally and print the information on the ruler.

  3. Understand the rules of the game

  4. The revolution ended British rule

  5. This accident is a violation of these principles.

  6. The plastic mold includes a ruler, measurement and drilling instructions.

Synonyms of Rule

ordinance, leadership, administer, scale, adjudge, dominion, procedure, proclamation, hegemony, dictum, head, norm, sovereignty, wont, custom, ruled, fiat, canon, pronouncement, system, lead