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Valuation Coverage
When our crew arrives to perform your move,
you will be required to choose your valuation option. Although
our claims percentage is much lower than the industry average,
claims can unfortunately happen, so you should plan ahead
as to how you would want your claim handled if one should
arise. The State of Oregon sets the following valuation limits
and enforces them strictly. It is important to understand
that we are regulated by O.D.O.T. and bound by law to handle
your claim based on the option that you choose below, no exceptions.
Please refer to the included General Information for Household
Goods form.
1) Released value protection (60 cents per
lb.).
This valuation option is no additional cost.
If you choose this option and you file a claim, your claim
will be settled at 60 cents per pound. For example, if you
were to make a claim on a dresser, and the dresser weighed
150 lbs, the maximum compensation for your dresser would be
(150 lbs * $.60lb.) = $90.00. In addition, the value of your
entire shipment is 60 cents per lb. This means that if your
shipment weighs 8000 lbs, the value of your goods in transit
is only $4,800. This amount is the maximum that you could
claim in total. Due to the fact that 60 cents per lb. rarely
covers the amount of a customer's total shipment in transit,
we recommend that you check with your homeowners insurance
to ensure coverage with this option.
To choose this option, please write the words
"60 cents per lb" in the line below, initial it, and then
sign and date at the bottom. ______________________ initials
________________
2) Full Replacement Value Protection ($3.50
per lb).
This valuation option is additional and costs
$.85 per $100 unit of coverage. In regards to the total value
of your shipment, you will be required to state a value of
your shipment which cannot be less than the weight of your
shipment multiplied times $3.50 /lb.) To figure out the weight,
we can weigh your shipment or estimate the weight of your
shipment based on how much space is used in the moving truck.
For example, if your actual or estimated weight is 8,000 lbs.
(reflective of an average 1500 -1800 square foot home fully
furnished) you multiply 8000 (lbs) * $3.50 (per/lb.) to get
$28,000 worth of handling and transit coverage. You cannot
state a lower value, however, if this is not enough coverage,
you can state a higher value. In regards to the example above,
at $.85 per $100 of coverage, full replacement would cost
($28,000 / $100 = $280 * $.85) = $238.00. In regards to individual
items, full replacement value means that if you file a claim,
the weight of an individual item no longer matters. For example,
if you file a claim on a television and the television costs
you $300 five years ago, but the comparable replacement costs
$400 today, your claim is honored at full replacement value,
or $400.
To choose this option, please write the amount
of full replacement value coverage chosen or assigned by your
crew as a minimum weight and value (must be done on move day),
along with the associated cost, then sign and date at the
bottom. Amount of coverage: _______________________ Cost:
___________________________________
By signing below, I fully understand that
if any claims may arise while my goods are handled or in transit
that my claim will be handled strictly upon the guidelines
set forth above. ______________________________________
Date: _______________________
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