You’ve done your research, and you’ve hired a reputable mover, good work! Now it’s time to discuss valuation coverage with your relocation specialist. You may be unaware of the term valuation and you may wonder how it differs from insurance. Valuation coverage is the amount of liability a moving company will accept for the value of your goods if damaged or lost while in the mover’s possession. By Federal Law, your mover is required to provide you with basic valuation coverage at 60 cents per pound, per article.
The basic coverage is not the best option to cover your life long possessions. Loss or damage claims under basic valuation are settled based on the weight of each article multiplied by 60 cents. If the moving truck collided with a semi on the interstate and all of your goods were damaged, you would receive 60 cents per item per article. If each article of your household goods added up to 10,000 lbs, your claim would be settled at $6000. This wouldn’t be near enough to replace your belongings.
Your relocation specialist can offer you full replacement valuation at a cost and will highly recommend it. The cost is based off of the weight and value of your household goods. You can always add value to your coverage for an additional fee. In addition, you can decide to purchase valuation under different deductibles. The cost of valuation coverage is minimal compared to what you will be paying for your move and it’s worth the extra money just to have peace of mind.
If you have full replacement valuation on 10,000 lbs, you would receive a minimum of $60,000 if all of your belongings were damaged in an accident. Of course, an accident that damages all of your belongings would be very devastating; knowing that you will receive compensation to replace your goods will ease the pain and stress of your loss.
So, whether you are moving your goods across town, across the state, or across the country, it is important to know that you have adequate protection in the unlikely but possible event of a catastrophe.
If you have questions regarding your current coverage or coverage for a future move, please do not hesitate to contact your Sorensen Account Executive, or our office at 800-926-2770.
And of course, feel free to visit our website in order to learn more about the services we can provide to you or your company, as we service local, out of state, corporate, and commercial moves.