What is Memories Gown Preservation declared value liability policy?

The liability policy limits Memories Gown Preservations maximum liability for loss or damage to each wedding gown, shall not exceed the lesser of:
– the declared value on the Memories Gown Preservation order form;
– the purchase price paid by the Consignee (where the shipped property has been sold to the Consignee);
– the actual cost of the damaged or lost property;
– the replacement cost of the property at the time and place of loss or damage; or
– the cost of repairing the damaged property.
Sentimental value by reason of attachments that people develop to articles they own cannot be assigned a monetary worth, so MemoriesGP rules this out as a valid consideration in assigning a declared value or replacement cost.