Moving Company Valuation Methods – Consumers Right To Know

Moving Valuation Methods – What You Need To Know

 household goods movers are required to assume liability
 for the cargo they transport. The level of that liability
is up to you. Most movers offer 4 levels of liability 
and these will be reflected in their tariffs. While valuation
is a form of financial protection, it is not, strictly
 speaking, insurance. Be sure you understand the different
 valuation options available to you when you move.

This option offers you the least protection. It is offered
by the mover at no additional cost. The terms of this 
arrangement are such that the mover assumes liability
 for not more than 60 cents per pound per item. Think carefully
 about this option and about your possessions – that is,
what your most valuable stuff weighs. If you choose this
 option, you will sign for it on the Bill of Lading.

With this option, your shipment will be valued based on
its total weight multiplied by $1.25 per pound. In the
 event that you make a claim for loss or damage, it will be settled based on the depreciated value of the
lost of damaged article(s) up to the maximum liability
 value as determined by the weight of the entire shipment.
The carrier is permitted to charge you $7.00 for each
$1,000 (or percentage thereof) of liability being assumed
under form of valuation. Be sure that you understand that
your shipment will be protected based on its depreciated
 value and that the mover can charge you a fee for this

 Sum Value 
Under the terms of this option, you may purchase additional 
liability protection from the mover if the value of your 
shipment is greater than $1.25 per pound multiplied by
the weight of the entire shipment. This entails declaring
 a total dollar value for your goods. The mover will charge
you $7.00 per $1,000 (the same valuation charge as that
for the Declared Value option) of declared value to assume
the greater level of liability.

Value Protection 
If you opt for this form of valuation, any articles that
are lost or damaged will either be repaired, replaced 
with a similar item, or a cash settlement made. These
 reparations are made at the mover’s option and expense.
While declared and lump sum valuation are based on the
depreciated value of the lost or damaged articles, full
value protection will obligate the mover to pay current
 market replacement value. The cost and terms of this form
of valuation will vary; be sure you understand the specifics 
of your mover’s plan.

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