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MovingGlossaryTerm: Assessed Value Coverage
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This specifies how much money per $1,000 of assessed value, you will need to pay to cover your household items to their full 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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