This letter serves to advise all our clients that our transit/warehouse insurance is written through wesport insurance company. The policy number is ms2050674 and the policy term is august 15, 2006 to august 15, 2007.
Coverage under this policy is based on $500,000 limit per trailer and $900,000 at our warehouse.
Plycon has a deductible of $2,500 and is required to handle all claims under $2,500. In accordance with icc tariff 400-m and our insurance policy, plycon has the option to repair or replace an item whichever is less. In the case of a missing item, net replacement cost is guaranteed when valuation insurance is purchased. All claims will be handled after full payment of the bill of lading is received. See item 23 of bill of lading form attached.
The commercial inland marine policy will not allow payment for "pair and set." If one of a set is damaged, plycon or its insurer may repair or replace any part to restore the pair or set to it value before the loss or it may pay the difference between the value of the pair or set before and after the loss.
All values must be declared at the time of quotation given and "valuation insurance" is charged at a rate of $11 per thousand; otherwise, $.60 Intrastate / $1.25 Interstate per pound will be paid on claims.
Claims for over $2,500 will be handled by the insurance company adjustors and are subject to their appraisals, interpretations of value and settlement.
No claim will paid as a result of the following:
-Deterioration or inherent vice, unless directly caused by fire, collision or overturn of the transporting vehicle.
-Wear and tear, spotting, discoloring, molding rusting, changes in temperature, unless a charge for the climate-controlled trailer is specifically made.
-Breakage of china, glassware statuary, bric-a-brac or similar articles, unless plycon has packed such property or it duly authorized agent, is not covered.
-Loss of profit will not be paid.
-Electronic equipment is not covered as it prior condition is unknown and therefore except for visible damage, claims will not be paid.
Plycon van lines, inc. Employs a crew of artesian contractors, specifically trained to repair "high end" furniture and fixtures. They are members of the association of art conservators and take pride in their repairs. Plycon will pay no repair bill without prior authorization.
All claims that are not satisfactorily handled within 90 days will be transferred to the management of the new york claims department for final resolution.
This is an outline of our insurance policy terms and conditions.