Van lines moving company Babbs Green movers are not required to reimburse you for any item that is valued at more than $100 per pound unless it is specifically listed on the shipping documents. This is set by the Surface Transportation Board, the federal organization that oversees moving companies. For example, a bracelet that weighs four ounces and is worth more than $25 ($100 per pound) must be listed on the shipping documents or it will not be covered if it is lost, damaged or destroyed during the move.
If you opt for this coverage, you will have to inventory your belongings and list everything that is valued at more than $100 per pound and make sure it is listed on the shipping documents so that you are covered. This can be an overwhelming task once you start looking through your belongings.
Full-value protection and released value are not governed by state insurance laws. Because they’re federal, they fall under the Surface Transportation Board of the U.S. Department of Transportation.
Expanded mover coverage
Depending on your risk tolerance, you may decide to upgrade your coverage. There are several options available to consumers.
Van lines moving company in Babbs Green You can ask the moving companies from which you are getting bids if they offer other valuation options. If your moving company is covering your belongings, it is not insurance. Moving companies are not allowed to sell insurance. Instead, you are paying for stated liability. In other words, you are setting the limits for your moving company’s liability if your belongings are damaged, lost or destroyed.
Some moving companies offer expanded valuations. Declared value allows you to set a per-pound amount for your belongings. For example, if you decide your belongings are worth $6 per pound and your total shipment is 10,000 pounds, you are placing a valuation of $60,000 on the total shipment. That would be the maximum you would receive if the entire shipment was destroyed or lost. Individual items would be replaced with like-kind: for instance, a two-year-old washing machine for a two-year-old washing machine. This is important to consider because items such as used clothing have little actual cash value.
You can also ask if the moving company offers lump sum value, also called the assessed value. The coverage is basically the same except the consumer sets the amount by value instead of weight. This is better if you have a lot of small, high-value items that don’t weigh much.
What is valuation?
Moving companies may offer several different levels of liability under their “valuation coverage.” Valuation coverage is the amount of liability that your moving company is willing to accept in the case that your belongings become damaged or lost during a move. Each level of liability determines how much the movers will reimburse you if your goods become lost or damaged while in their hands. All these liability options provide limited coverage. Please note that valuation coverage is not insurance. What most people think of as moving insurance is actually valuation coverage.
What’s not included in valuation coverage
As important as what is covered, is what is not covered.
With valuation coverage, movers are not responsible for items in boxes they did not pack. Unless the box shows significant damage, you are not likely to be covered for damage to anything inside the box. You are also not covered for natural disasters, such as fire, hurricanes, tornadoes, windstorms, hail, etc. Also, if items are damaged while in storage that is not controlled by the moving company, you are not covered.
Third-party moving insurance options
There are also insurance companies that offer what’s called “relocation insurance.” These policies are similar to lump sum and declared value coverage that the moving company may offer. Some people prefer to have their belongings insured by a third party if the moving company they are using does not offer this type of valuation coverage.
You can also get total loss coverage, which will replace all of your belongings in case of a catastrophe, such as fire, theft, truck accident, etc. Individual items are not covered and this coverage is only in case of the total loss of your belongings.
Moving insurance options if you DIY your move
First, check if your renters or homeowners insurance policy covers your possessions if you’re transporting them in your vehicle or a rental car or truck. Then, consider the relocation insurance. As a separate liability policy, it can fill in the coverage gap when you move. If you rent a truck, you can buy the rental truck insurance. The rental company may be offering coverage for the truck, the cargo and all passengers. It really depends on the level of coverage you select. Most common rental truck moving insurance includes accident damage, cargo protection, medical and life insurance coverage for the passengers and supplemental liability coverage for accidents you cause. Theft, damage caused by improper packaging and normal shifting of cargo are typically excluded.
Tips for protecting your move
Van lines moving company in Babbs Green Take photos of your possessions before the move. It can’t hurt, especially if you have insurance. This way, if you have to file a claim you can show a before and after photo of your damaged item.
Pack carefully. Some of your actions may limit your mover’s liability, and packing is one of them. If you’re packing your own items, make sure to use the right boxes and packing supplies to pack as securely as possible. Do let your movers know which boxes contain perishable, dangerous or hazardous materials (this is where proper labeling comes in).
Let your moving company know if you have articles of extraordinary value. Communicate about any valuables, in writing. This may include any of your treasured possessions such as heirlooms, art, antiques, jewelry or any valuable collections.
Don’t wait to report loss and damage. You have nine months following either the date of delivery, or the date on which the shipment should have been delivered, to file a written claim.
If you’re moving within your state, check the state regulations regarding moving insurance. Each state may have its own rules and regulations governing moves within the state. Check with your state, county or local consumer affairs agency or state moving association if you’re moving to a new location within the same state.
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