Valuation Coverage vs. Insurance?
|The most important feature to know about valuation is: VALUATION COVERAGE IS NOT INSURANCE. Valuation offered by van line carriers is carrier contractual liability based on the weight of your household goods, and established by either the Department of Transportation (DOT) or a State agency/organization.Below are options offered by most of our van liners, agents, and carriers:
1. $0.60 per pound per article – Limited contractual liability based on a DOT or State tariff requirement. This limits the moving company from paying out the actual value of an article, in the event of loss or damage. It allows them to pay a minimal amount on damage or catastrophic loss based entirely on the weight of the item itself.
2. Replacement Cost Protection – A higher level of protection available for an additional charge. The van line or forwarder will require the purchase of a minimum amount for this protection, based on the weight of the household goods shipment.
Advantages of Insurance:
Please note that MAP MY MOVE, is not an insurance broker. We can help provide you with additional insurance coverage from one of our affiliate programs. Please speak with your relocation agent for more details.