Understanding Your Valuation

What is valuation? It’s the degree of worth placed on your shipment for the purpose ofvaluation.jpg reimbursement for lost or damaged goods while in the possession of your mover. Whether moving locally or interstate you’ll have to choose a level of valuation for your move. The decision has to be made and signed off on prior to the start of the move and cannot be changed once it has begun.

All moving companies are required to offer the minimum valuation option, $0.60 per pound per article. For example, if an item weighing 10 pounds got lost or damaged then you would get $6 towards repair or replacement of that item. The minimum coverage applies for both local and interstate moves.

You can also purchase full replacement valuation, which would be the amount of coverage you place for your entire shipment. The cost would be set forth by your mover; for example, if you declare $6,000 coverage and your mover’s rate is $9 / $1000 declared coverage, then you would have an additional charge of $54.00 added to your move. The mover could then repair or replace the item to it’s depreciated value up to your declared coverage amount. The minimum amount of coverage you can choose is $6 per pound of your shipment’s weight.

When deciding the best option for you, check your homeowner’s insurance. Some may provide coverage of your belongings for a move and will vary by company and plan so make sure to check with your agent.

Some factors may limit your mover’s liability so you’ll want to keep these in mind:

  • Packing perishable, flammable, hazardous materials without your movers knowledge.
  • Packing your own boxes.
  • Items of extraordinary value (worth over $100 per pound) that weren’t specifically listed for the carrier prior to packing or loading.
  • Particleboard furniture, ready-to-assemble furniture that comes from the manufacturer in a box, isn’t meant to withstand the pressures of a move.

The movers liability stops once your belongings are out of their possession. This also means that if your belongings are taken to a public storage facility then you will no longer have coverage under your movers valuation and they aren’t liable for any damages that may occur while there.

For more information check out Your Rights & Responsibilities When You Move. If you’re still planning your move then give us a call at Parma Movers, Inc. to schedule your free in-home survey!

216.741.4747   OR   samantha@lincoln-parma.com

Author: Samantha Barkley

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