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Total Depreciated Value covers the LESSER of the following amounts:
1. The cost of reasonably restoring the property to its condition immediately before the move; 2. The actual depreciated value of the property immediately before the move.
The declaration of value must reflect the total actual depreciated value of the entire shipment. If you declare a value lower than the actual depreciated value, you will underinsure each item in the shipment thus incurring a coinsurance penalty. This penalty will limit the insurance payment in the event of loss or damage by the ratio of declared depreciated value to the actual depreciated value.
When this option is selected, Brookline Moving Co. will prepare an insurance certificate. This represents an insurance agreement between you and the insurance company. All claims must be submitted to Brookline Moving Co. in writing within 15 days of completion of move with supporting documents of repair or proof of value. In the event that no appraisals are available, the burden of proof will be upon the owner of the goods to provide proof of value.
