Full Value Coverage

SunBelt makes available, through third-party insurers, full value coverage at rates provided herein, which are subject to change. The full value coverage option is protection against “All Risk” of physical loss or damage to the cargo from any external cause only and completely replaces the level of carrier liability otherwise established within Item 408 subject to rules and exceptions indicated herein. To obtain full value coverage, Shipper must properly request full value coverage by following the procedure set forth in this Section, and Shipper must declare an “Invoice Value” for the shipment on which full value coverage is requested. “Covered Value” is defined as the sum of the amount of invoice value presented on the request by the Shipper, plus freight charges, plus 10% (invoice value + freight charges + 10%) and always subject to limitations and rules set for in this Section.

A. Rates: Where full value coverage is properly requested, Carrier will impose, and Shipper or the Payor of freight charges must pay,
within terms, the following charges (in addition to all other charges incurred):

A rate of $0.80 per $100 of invoice value subject to a $64.00 MINIMUM CHARGE PER SHIPMENT only for shipments traveling within or between the United States and Canada, provided the cargo moves under a SunBelt bill of lading indicating a request for full value coverage.

Example 1: If customer requests full value coverage of $25,000.00 invoice value, the customer must note FULL VALUE COVERAGE AT $25,000.00 at least one inch in height on the BOL. The Full Value charge will be $200.00.

Example 2: If customer requests full value coverage of $5000.00 invoice value the customer must note FULL VALUE COVERAGE AT $5000.00 at least one inch in height on the BOL. The Full Value charge will be $64.00 minimum charge.

- Full Value charge = $5000.00 8% = $40.00 thus minimum of $64.00

General Rules for Full Value Coverage:

a)  Coverage commences from the time Carrier takes possession of the goods and continues in force during the ordinary and customary course of transit to the final destination.   Final destination is the place of business of consignee as per the bill of lading.

b)  Coverage described herein remains in force up to the time of a signed delivery, at which time coverage ceases. Concealed damages must be reported to SunBelt Xpress within 5 days of delivery. Moving or transporting the cargo from one location to another by car, truck, rail, or any other means after it has been delivered to consignee voids full value coverage.

c)  Shortages must be reported at delivery or same day as delivery.

d)  All product must he held until claim is finalized and be available for inspection.

e)  Payer of freight charges must request full value coverage within 24 hours of freight being tendered to Carrier.

f)  Full Value coverage replaces all levels of Carrier cargo liability provided under Item 408 in their entirety and replaces contractual provisions governing Carrier’s liability.

g)  All claims for cargo loss or damage, including all proper supporting documentation required by 49 CFR Part 370, must be received by SunBelt within nine (9) months of the date of delivery or, if not delivered, the date delivery should have occurred.

h)  All lawsuits must be filed against SunBelt no later than two (2) years day from the original written declination.

i)  Charges for full value coverage will not be voided or refunded under any circumstances, including, but not limited to instances when Carrier refunds or voids freight charges due to service failures.

j)  Invoice value is defined as the total amount of the invoice supplied to the purchaser of the Underinsuring will fall under a
co-insurance situation and will impact claim recovery on a prorated basis even if repaired.

k)  To recover the additional 10% above invoice value when claiming a complete loss of product, the 10% amount must be
stated as a separate line item on the claim form. There is no 10% above invoice value recovery for goods that are not a total loss
(i.e. repaired goods).