Valuation refers to the amount of liability that Atlas assumes, and, therefore, the amount you may receive if an item is lost or damaged while in the care of your Atlas Agent. Before you agree to a valuation option, take the time to understand the pros and cons of available choices.
This is the most economical option, offering minimal protection at no additional cost. Claims for loss or damage are based on weight multiplied by 60 cents per pound ($1.32 per kilogram). For example, if Atlas would lose or damage a 10-pound (4.54-kilogram) stereo component valued at $1,000, your settlement would not exceed $6.00. Think carefully before agreeing to the Minimal Protection option. If you choose it, you must make a specific statement on the Order for Service agreeing to it.
Unless you specifically agree to other arrangements, Atlas assumes liability for your shipment based upon your purchase of Full Value Protection. When you select this option, articles that are lost, damaged or destroyed will, at Atlas' option, be either repaired, replaced with articles of like kind and quality, or a cash settlement will be made for the repairs or for replacement of the articles at their current value, regardless of the age of the lost or damaged articles. The minimum declared value of a shipment for Full Value Protection is $10,000 or $6.00 multiplied by the total weight of the shipment in pounds, whichever is greater.
Example of Full Value Protection
The approximate cost for Full Value Protection varies depending on the size of deductible. For a shipment weighing 4,000 pounds (1,814.4 kilograms) the minimum declared value would be $24,000 (4,000 pounds multiplied by $6.00/pound) and the cost of Full Value Protection with no deductible would be $275.
These valuation options are not governed by state insurance laws, but instead are authorized under Released Rates Orders of the Surface Transportation Board of the U.S. Department of Transportation. Valuation is NOT insurance.