From time to time, in the planning and execution of your move, you will come across terms and acronyms, which the industry uses. The following are just some of the most likely you will come across:
| Term | Definition |
|---|---|
| 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 that a cash value be assigned to the items you will be moving. If a deductible is applied, that value is stated next to the cost-per-$1,000 figure. For example, 7.50/100 means that the consumer must pay $7.50 per $1,000 of assessed value to cover the load against loss, and the first $100 of damage is not covered. 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. In such cases, carriers are requested to quote valuation prices based on $25,000 of coverage. Please note that most valuation policies require that the entire load be covered, not just specific items. Ask your carrier for terms |
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