Accord Moving Inc. - Insurance Explanation page

Insurance Coverage Terms
Assessed Value Coverage	This specifies how much money per $1,000 of assessed value you will need to pay to cover your household items to their fully assessed value. Purchasing this protection requires a cash value be assigned to the items you will be moving. Some valuation policies are calculated on a sliding scale, where the price per $1,000 of coverage will vary depending upon the total amount of coverage requested. In such cases , carriers are requested to quote valuation prices based on $25,000 of coverage. Most valuation policies require that the entire load be covered and not just specific items. Ask your carrier for terms
Full Replacement Value Coverage	This is the amount of money to purchase a replacement for a damaged item, regardless of the age of the item. Most valuation policies require that the entire load be covered and not just specific items. Ask your carrier for terms.
Standard Coverage	Movers are required by law to provide a minimum of free coverage. This number, typically 60 cents , refers to the amount of money you will receive per pound of damaged goods. This coverage is the bare minimum and should not be relied upon to cover you for any significant damage. For example, if you have a priceless vase that weighs two pounds , you would only be entitled to $1.20 of compensation id the vase is damaged in transit.
Tariff	Carrier rates provisions, for every aspect of moving a shipment from one location to another.
Valuation	The degree of worth of the shipment. The valuation charge compensates the mover for assuming a greater degree of liability than is provide for in its base transportation charges. All movers are required to assume liability for the value of goods that they transport. Most movers offer two levels of liability, basic and full value. Basic value is also referred to as "released value".
Research this subject in detail at : http://www.protectyourmove.gov/consumer/awareness/valuation/valuation-insurance.htm
Customers Declaration of value
Tariff level	This is a tariff level of Carrier Liability- It is not Insurance. You must select in your own handwriting one of two options for your shipment. The option you select establishes your movers maximum liability for your goods, subject to the rules contained in the tariff.
Option 1 : Full replacement value Protection	If any article is lost , destroyed or damaged while in the movers custody, your mover will either 1.) Repair the article to the extent necessary to restore it to the same condition as when received by the mover or , pay you for the cost of such repairs or 2.) Replace the article with an article of like kind and quality or pay you for the cost of such a replacement. An additional charge applies for this option. To select this option : You must indicate inn your own handwriting on the declaration of value form, the lump sum dollar of the worth of your shipment (which may not be less than $5000) or an amount per pound , that may not be less than $5.00 per pound, whichever is greater. The value of my shipment is : $______________ NO deductible( ) - $250 Deductible( ) - ( ) $500 Deductible
Option 2 : Released Value of 60 Cents Per Pound per Article	If any article is lost , destroyed or damaged while in the movers custody, your mover's liability is limited to the actual weight of the lost , destroyed or damaged article multiplied by 60 cents per pound per article. This is the basic liability level and is provided at no charge. It is considerable less than the average value of household goods. To select this option : You must indicate inn your own handwriting on the declaration of value form, the words "60 cents per pound", The value of my shipment is : $______________

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