Valuation is the coverage offered by your moving company or van line for in-state moves. This coverage is designed to be a tariff level carrier liability plan that is based on the weight of your possessions. There are two different ways to buy valuation for your move, and some issues to consider that may determine whether you opt for straight valuation or bump up to full insurance through a different carrier.
Per Pound Valuation
The standard rate for interstate moving is $0.60 per pound, per article, according to the Department of Transportation's interstate moving regulations. This rate will protect the moving company from paying the actual cost on your items, allowing them to pay a minimal rate for any major damage or catastrophic loss that might occur to your possessions. This method does not consider what an item is or what it means to you. It just counts up the total weight and number of articles in your move.
Replacement Cost
You can also opt for replacement cost valuation which will provide you with coverage based on what your possessions are actually worth. There is a minimum dollar amount purchase for this type of valuation and there are some restrictions that keep it from being the full insurance you might get from a third party carrier.
Disadvantages of Valuation
Because it is not full insurance, it's important you know the disadvantages that can arise from choosing only valuation for your possessions. First off, your possessions are not covered if the carrier is not liable for the damages. That means that accidents caused by a third party and catastrophes outside anyone's control, such as an "Act of God" do not qualify you for reimbursement.
If there is a snow storm, earthquake, tornado, or anything else that might destroy your possessions, you won't be covered due to the circumstances. Additionally, when a problem does occur, the claim will be settled by the employee who has been deemed responsible for the damage. Finally, replacement cost valuation - which is the better of the two types - is more expensive than many kinds of insurance.
For some moves, valuation may be enough, but if you have a number of valuable, expensive items that you would like to ensure are kept safe and sound in the truck during the move, you may want to opt for more advanced, more inclusive insurance coverage through your insurance company.
For more helpful ideas on making your next move your best move ever, download "The Fine Art of Moving - The Ultimate Moving Guide from the Moving Experts" at http://www.fineartofmoving.com
Ron Merrill is owner of C&M Houston movers and storage and C&M Fine Art Services, service companies offering peace of mind to interior designers, art collectors and high net worth clients, nationwide. You can find more information about Ron Merrill at houston Moving Company
