MOVING PROTECTION

Customers will often ask movers, “What kind of insurance do you have in case something is lost or damaged?” While the Commission requires the mover to have cargo, auto, and general liability insurance, the settlement of your claim is defined by the valuation you select. Valuation establishes the total value of your shipment in case of catastrophic loss and also governs how the mover will resolve your claim for loss of or damage to individual items. The type of valuation will cover the entire shipment; you cannot select one type for part of the shipment and another one for select pieces. You must explicitly indicate your choice in two places: on the Bill of Lading and on the Addendum to the Bill of Lading (making sure that they both show the same choice).

As discussed below, there are two types of valuation available for local and long distance moves. However, local shipments are not weighed. Therefore, if you decide to purchase full value protection for a local move, the mover will estimate the weight of your shipment to calculate its value.

REMEMBER: You must select your level of valuation before the move begins. Once it starts, the selection cannot be changed. Also, be sure to provide the mover with a list of items you believe to be of extraordinary value (see Articles of Extraordinary Value). While preparing that list, customers sometimes realize that they have undervalued their shipment by simply accepting the minimum required. If everything on the truck is destroyed, are you prepared to accept a check for the value of the shipment shown on the estimate? If not, talk to someone about declaring an increased amount (and paying a higher fee).

FULL VALUE PROTECTION

$0.75 Per $100 of Value: The minimum value of the shipment will be $4.00 times the weight of the shipment. However, you have the right to declare that your shipment has a greater value and pay for that increased protection. If items are lost, the mover will have the options of replacing them with articles of like kind and quality or paying the replacement cost as determined by current market value. If items are damaged, the mover will have the same options, plus the additional options of repairing the items or paying the repair cost. All damaged items that are either replaced or reimbursed at full-market value become the property of the mover. Under this type of valuation, for example, if the total weight of your shipment is 8,000 pounds, then the total value of your entire shipment is established to be $32,000 and the charge for that level of protection would be $240. However, if you decided that your shipment has a greater value, maybe $45,000 rather than the calculated minimum of $32,000, you could establish that your shipment value is $45,000 and the charge for that level of protection would be $337.50.

BASIC VALUE PROTECTION

No Charge: Mover’s maximum liability will be $0.60 per pound based upon the weight of any lost or damaged items, regardless of its actual value. For example, damage to your refrigerator weighing 400 pounds would result in a maximum claim settlement of $240. Basic Value Protection provides minimal protection, and it is possible that settlement of any claim under this level of valuation will not be satisfactory to you. Under this type of valuation, for example, if the total weight of your shipment is 8,000 pounds, then the total value of your entire shipment is established to be $4,800.

ARTICLES OF EXTRAORDINARY VALUE

Items of extraordinary value are defined as those having a value greater than $100 per pound. Such items, e.g., crystal, fur garments, antiques, etc., should be specifically listed in writing for the mover and signed for on the Bill of Lading. If not listed, the mover’s liability could be limited to $100 per pound per article (based upon the actual article weight) regardless of the valuation you selected. For example, a claim for a broken $500 collectible weighing one pound could be covered for only $100. However, if such collectible item is claimed on the inventory list as an item of extraordinary value at $500, the mover’s liability may be up to $500 if you selected Full Value Protection. But remember, even if you declare items of extraordinary value, the total value of your entire shipment is still no more than the total value that is established under the type and total amount of valuation protection you select. Keep a copy for your records of the inventory list you provide to your mover. It is highly recommended that you transport certain valuable items yourself, such as jewelry, stamp and coin collections, cash, guns, legal and medical documents, tax records, genealogy research, and other such irreplaceable items.