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What is ValueMAX®
ValueMAX is a repair/replacement service for leased equipment. Although it is not insurance, ValueMAX, which is provided by Pitney Bowes or an affiliate, enables you to have damaged equipment repaired or replaced at no additional cost. The only cost for this service is a flat, low monthly fee – usually much less than insurance deductible. This benefit is not applicable if any damage is caused to the equipment through your gross negligence, willful misconduct, normal wear and tear, or if you are in default under the lease.
NOTE: Government accounts are not eligible for ValueMAX.
Frequently asked questions and answers about ValueMAX:
- What are the benefits of ValueMAX
- How does the ValueMAX program work
- Is ValueMAX optional
- What is the difference between ValueMAX and my own insurance
- What is the difference between ValueMAX and Service Level Agreement (SLA)
- When does ValueMAX program begin
- What do I do if I have a loss
- Can I opt out of the ValueMAX program at any time
- Can I get a credit/refund for ValueMAX payments made after I opted out of the program
What are the benefits of ValueMAX
Equipment repair/replacement – Equipment under this plan are eligible for repairs or replacement in the event of loss or damage.
No exclusions – There are no exclusions outside of gross negligence, willful misconduct, normal wear and tear and default. Normal wear and tear is covered by the Service Level Agreement (SLA), with exceptions noted in your SLA.
No deductibles – No unexpected out-of-pocket costs in case of a loss event. Many insurance policies may have high deductibles in order to keep premium costs down, and in many cases may have exclusions (i.e., flood or water damage, power surge, earthquake, accidents).
Fast equipment replacement – The ValueMAX department works directly with you on the replacement process. It takes one phone call to 1-800-732-7222 to start the claim process, and the damaged equipment is usually repaired or replaced with like-for-like equipment in less than 20 business days.
Peace of mind protection/hassle-free process with no forms to fill out, and no need to wait for an insurance adjustor.
If you have an equipment loss, call 1-800-732-7222 and one of our representatives will start working on your claim immediately.
How does the ValueMAX program work
With the ValueMAX service, you receive complete, no-hassle replacement at no additional cost. This includes delivery and installation of the replacement equipment. There is no depreciation allowance, or a deductible under this program.
Is ValueMAX Optional
You can opt out of ValueMAX by providing us with proof of acceptable insurance coverage. Insuring the equipment against loss, damage, or destruction for the full replacement value under a comprehensive policy or similar coverage is a requirement under the lease contract. If you don't have this, your leased equipment will be automatically enrolled in the ValueMAX program and you'll be billed accordingly.
If you have acceptable coverage, complete and submit the Proof of Insurance form to opt out of ValueMAX.
Without evidence of suitable insurance, ValueMAX will be billed to your account. The ValueMAX fee will appear as an additional charge on your invoice.
What is the difference between ValueMAX and my own insurance
ValueMAX is not insurance. ValueMAX is the equipment repair/replacement program provided by Pitney Bowes Inc. in an event of loss of or damage to leased equipment provided by Pitney Bowes. ValueMAX does not have any deductibles or exclusions, other than normal wear and tear, gross negligence or willful misconduct on the part of the lessee or default under the lease. Many insurance policies may have high deductibles in order to keep premium costs down, and in many cases, may have exclusions (i.e., flood or water damage, power surge, earthquake, accidents). In many cases, you may end up having to pay out of pocket for repair or replacement if you are not participating in ValueMAX.
What is the difference between ValueMAX and an Service Level Agreement (SLA)
ValueMAX protects the equipment against any loss event, other than wear and tear, gross negligence, or willful misconduct on the part of the lessee or default under the lease. Service Level Agreement (SLA) covers the equipment for service and normal wear and tear, with the exceptions noted in that SLA.
When does ValueMAX program begin
The ValueMAX program takes effect from the date the first ValueMAX payment is received.
What do I do if I have a loss
Simply call our Risk Management Specialist at 1-800-732-7222, and we will start working on your loss claim immediately.
Can I opt out of the ValueMAX program at any time
Yes, you have the right to opt out of the ValueMAX program by providing us with proof of insurance coverage*. Your lease contract requires you to keep the equipment insured against Loss for its full replacement value under a comprehensive policy of insurance or other arrangement with an insurer of your choice, provided that it is reasonably satisfactory to us (“Insurance”). If you want to opt out of the ValueMAX program, you will need to provide us with proof of coverage under a comprehensive insurance policy for full replacement value.
*ValueMAX cannot be canceled after you enroll and it becomes part of your lease contract. If you are unsure if ValueMAX was included in your lease, refer to your signed contract. If the "Yes PBGFS ValueMAX® program" box is checked you will not be able to opt out of ValueMAX. Locate the ValueMAX option in your contract.
Complete and submit the Proof of Insurance form to provide us with your insurance information.
Can I get a credit/refund for ValueMAX payments made after I opted out of the program
Once insurance information is provided, the lessee is removed from ValueMAX program on a go-forward basis. Previously paid ValueMAX fees will not be credited. Any unpaid ValueMAX balance will automatically be removed from the total once insurance information is entered (after billing cycle cut off).