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Great Canadian Van Lines is committed
to providing you the best possible transit protection for your goods.
Although we have one of the lowest claim ratios in the moving
industry, loss of damage of your goods can still occur. In order
to meet the needs of our clients, Great Canadian Van Lines offers two
types of protection for your goods while in transit.
Type I: Released Value
Protection
Released Value Protection is the most
economical type of protection for your goods. This coverage is
mandatory as per the Motor Carrier Act and is offered to you at no
additional cost. However, this coverage is minimal and will cover
your goods at a maximum of 60 cents per pound.
Although this coverage is most
economical you must carefully think before choosing this type of
coverage because the average household goods are worth considerably
more than 60 cents a pound. This coverage restricts the total
value of your goods by multiplying the weight of your entire shipment by
60 cents. Loss or damage claims are settled based on the pound
weight of the article multiplied by 60 cents.
An example of how this coverage works
is as follows:
Your 32" TV is dropped and destroyed
and you have chosen Released Value Protection. The weight of the
TV is 200 pounds and the maximum amount of payment you would receive is
200 times 60 cents which equals $ 120 ( 200 x .60 = $ 120) Obviously
the TV cannot be replaced for $ 120 but that is the maximum you will
receive.
Great Canadian Van Lines does not
recommend Released Value Protection of your goods unless you have
secondary coverage for your goods such as a home owner's policy that
covers your shipment while in transit. Please note that some
homeowner policies have costly deductibles which are not worth paying.
Great Canadian Van Lines recommends checking with your insurance broker
before choosing the right coverage for you.
Type II: Replacement Value
Protection
This type of coverage is the most
common chosen as well as the one Great Canadian Van Lines recommends to
all our clients. This protection is the most comprehensive plan
available for the protection of your goods.
When choosing Replacement Value
Protection, if an item is lost, damaged or destroyed, Great Canadian Van
Lines will either repair, replace with the same or like item, or offer a
cash settlement for your item. The value of the item is determined
at current marked value and is not calculated based on
depreciated value as some other companies do.
You have the option of declaring
a value based on the weight of your shipment times an amount not less
than $ 8 per pound. This means if you shipment is 5000 pounds you
can declare a minimum 8 times 5000 pounds or choose a higher value
such as $ 10 per pound. You can also declare a lump sum value (as
long as it is higher than $ 8 per pound ) such as $ 100,000
An example of how this coverage works
is as follows:
Your shipment weighs 5000 pounds and
you decide to take the minimum $ 8 per pound option. This would
cost you $ 240.00.
(5000 times $ 8 = $ 40,000)(40 x $ 6 =
$ 240.00).
Now if the same 32" TV is destroyed
and you have Replacement Value Protection, your TV would either be
replaced with the same or comparable TV at the time of damage or you
would be given the fair market value of the TV in a cash settlement.
If the TV was just purchased two months ago for one thousand dollars you
would receive $ 1000 settlement.
Exceptions from Protection
Although you may have purchased the
Replacement Value Protection, Great Canadian Van Lines cannot cover
certain items while in transit. The following is a non-exclusive
list of non-protected items.
Owner Packed Cartons: Items not packed by Great Canadian Van Lines which result in damage are
not covered unless there is exterior physical damage to the carton
which is
recorded on the inventory forms at the time of delivery.
Items of Extraordinary Value: Any article whose value
exceeds $ 100 per pound such as:
Jewelry, Silverware, Coins, Stamps, Stocks, Computer Software
Along with the items above any items
of furniture worth more than $ 10,000 must be shipped along with an
appraisal certificate from a reputable appraiser and attached to the
inventory at the time of shipping.
Mechanical Condition:
Great Canadian Van Lines cannot cover the mechanical or electrical
condition
of your items due to the nature of the items.
These items have
moving parts
which damage can occur to through no fault of Great Canadian Van Lines.
These include but are not limited to: TV, DVD, Stereo Equipment,
Washer,
Dryer, Refrigerator, Freezers, Computers
(Deductible
is zero dollars on Great Canadian Van
Line North American Long Haul Shipments)
$2.00 per $1,000 additional per month
for Great Canadian Van Line Moves in storage
With both above types of coverage there
are certain conditions and exceptions that
apply. See "GCVL Terms & Conditions".
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