The insured value of the aeroplane was greater than its book value.

该飞机的保险价值高于账面价值。

《柯林斯英汉双解大词典》

The insured value of the airplane was greater than its book value.

该飞机的投保价值高于它的实际账面价值。

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Where the insured amount is lower than the insured value, the insurer shall indemnify in the proportion that the insured amount bears to the insured value.

保险金额低于保险价值的，在保险标的发生部分损失时，保险人按照保险金额与保险价值的比例负赔偿责任。

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In other words, lower the amount insured below the actual value of the house to prevent moral hazard.

换句话说，将房屋的保险价值低估于其实际价值,以此来防范道德风险。

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Some critics also say insurers are inflating the insured value of houses, saying they would cost more to rebuild, thus raising the total bill each year without raising rates.

NPR: Coastal Homeowners Stagger Under Insurance Costs

This means that people differ in how much they value being insured against bad outcomes, and those who value insurance the most also happen to be those who have low expected costs.

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Some go so far as to say that if a bond is insured and bondholders receive back the par value, no default has taken place, just an unscheduled call.

FORBES: Even If A Bond Doesn't Default, You Can Still Lose Your Money