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Before You Buy
Credit Report and Score
The Buying Process
The Building Process
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Getting a Mortgage
Money Saving Tips
Banking and Credit
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Moving Planner
Design and Decorating
Setting Up Utilities
Getting Insurance
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Basic Carrier Liability
Basic Carrier Liability is limited to 60 cents per pound per article. This minimal amount of liability that must be provided to any consumer when transporting goods is called "released value". There is no extra charge for this minimal protection. Whether you move locally or long distance the mover that you will use must provided you this. If moving locally, please consult your mover in your state on what is the minimal liability for that state. When moving out of state the minimal liability that the mover assumes for not more than 60 cents per pound per article. Under this coverage if a 10-pound item valued at $ 1,000 was lost or damaged and you agreed to a released value of shipment, the mover would be liable for no more than $ 6.00.
Declared Value Protection
This coverage is subject to an additional charge to a minimum of $ 1.25 time the weight of your shipment. This coverage is based on depreciated value of an item regardless of current replacement cost. The whole shipment is covered at a value not to exceed the dollar amount that you, the customer, declare.
With this option the mover assume liability for the entire shipment at an amount equal $1.25 per pound times the weight of your shipment. For example, if your shipment weights 8,000 pounds, the mover will be liable for loss or damage up to $ 10,000. Though you have made no specific arrangements for this plan, the mover is entitled to charge you $ 7.00 for each $ 1,000 of liability. A charge of $70 will be added to your bill for additional liability. Under this arrangement a 10-pound item valued at $ 1,000 in your 8,000 pound you could collect the full value of the painting if it was lost or damaged. Your valuables are somewhat protected, under this plan, but you pay for it.
If your shipment exceeds the liability of $ 1.25 per pound times the weight of your shipment, you may obtain full replacement liability. To obtain this coverage please consult your mover for additional charges and rules regarding this coverage.
Movers are permitted to limit their liability for loss or damage to articles of extraordinary value. It is your responsibility to understand this coverage by obtaining a complete explanation of this limitation before your move. Your mover will provide you with the explanation regarding this liability. However, we do suggest that all these valuables should remain in your possession during the move.
Full Replacement Value
This coverage equals the replacement cost or the repair of a damaged item. The mover can sell you or procure for you liability insurance in the amount you require if you release your shipment for transportation at a value of 60 cents per pound per article. If any damages or lose to your shipment occurred during your move, the mover would be liable for an amount not exceeding 60 cents per pound per article, and the balance of the loss would be recoverable from the insurance company up to the amount of insurance purchased.
Full replacement value coverage is subject to a minimum charge of either $3.50 or $4.00 times the weight of your shipment. Some movers will provide minimum full replacement value coverage. You should decide if the minimum coverage is enough to cover your load in case of loss or damages.
This coverage may have a deductible. Remember that coverage with deductible reduces the premium; you will also be responsible for the first $100.00, $250.00 or $500.00 of loss or repairs.
The mover's representative can advise you further on the availability of such insurance liability and the cost.
Extra Ordinary Value Items
All items in your shipment, which are considered to be of extraordinary value, must be identified. You must advice your van line agent in writing that they are in your shipment. These items are defined as items having a value greater than $ 100.00 per pound per article. For example:
Antiques / Crystal / Precious Stones or Gems
Art Collections / Currency / Silver and Silverware
Cameras / Figurines / Video Cameras
Computer Software / Furs
Coin Collection / Oriental Rugs
If you include items of extraordinary value in your shipment, a High Value Inventory sheet must be completed and signed by you prior to your move. In the event of a claim, any settlement is limited to the valuation you declare for the entire shipment. If you fail to list all extraordinary items value and/or fail to sign the High Value Inventory sheet, the van line liability for loss of or damage to those items will be limited to no more than $ 100.00 per pound per article, based upon the actual weight of the article (does not apply to shipments under the "basic carrier liability" option).
You must declare the total amount of released value that you declare for your goods. This total should include the value of items, including all items of extraordinary value. Record the total value on the bill of lading. Please note that the protection for items of extraordinary value is not available for shipments, which are released to the van line's value of 60 cents per pound per article (basic carrier liability option).
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