If something is damaged or lost in a move, what you receive depends on a choice you make before the truck is loaded. It is called valuation, and it is worth five minutes of your attention.
Valuation is not insurance
Valuation is the level of liability the mover accepts for your goods under federal rules. It is part of your moving contract. Insurance is a separate product sold by an insurance company. You can have one, the other or both.
Full Value Protection
Under Full Value Protection, the mover is liable for the replacement value of lost or damaged goods. For any item that is lost, destroyed or damaged, the mover may repair it, replace it with a similar item, or pay you the cost of repair or the current market replacement value. This is the more comprehensive option and it carries a charge that varies by mover and by the value you declare. Deductibles may be available to reduce the cost.
Interstate movers must offer Full Value Protection, and your shipment moves under it unless you choose the lower level in writing.
Released Value Protection
Released Value is the basic option and comes at no additional charge. The mover’s liability is limited to 60 cents per pound per article. That means a 50-pound television is covered for $30, no matter what it cost. To choose this level you must sign a specific statement on the bill of lading.
| Full Value Protection | Released Value | |
|---|---|---|
| What it pays | Repair, replacement or cash settlement at current value | 60 cents per pound per article |
| Cost | Additional charge | No additional charge |
| How you select it | Applies unless you waive it | Signed waiver on the bill of lading |
High-value items
Articles of extraordinary value, generally anything worth more than $100 per pound such as jewelry, silverware, fine art or collectibles, should be listed in writing for the mover before the move. If they are not declared, the mover’s liability for them can be limited.
Things that can limit a claim
- Boxes you packed yourself, if the contents are damaged and the carton shows no outside damage.
- Perishable, hazardous or prohibited items packed without the mover’s knowledge.
- Damage that is not noted, or a claim that is filed late. See how to file a moving claim.
Should you buy separate insurance?
Check your homeowners or renters policy first, since some cover goods in transit and many do not. Third-party moving insurance is also available. Your move coordinator can explain what our valuation options cover so you can decide whether you want additional protection.