Property Valuation
In Missouri, a property's value that is established for the purpose of an insurance claim is called:
AMarket value
BReplacement cost value (or insurable value)✓ Correct
CAssessed value
DInvestment value
Explanation
Insurance value (insurable value) in Missouri is based on the cost to replace or reproduce the insured improvements, not land value (land cannot burn down). It differs from market value and assessed value.
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