Moving companies are only liable to replace or repair damaged items to the extent of your declared value. Therefore, if the declared value of the items is low, the company’s liability will also be low. The BASIC Released Value Protection offers limited protection at a rate of $0.60 cents per pound per item. All movers are required to offer this coverage at no additional charge. This means that the company’s liability for an item that weighs 10 pounds and is lost or damaged during transportation would be limited to $6.00.
However, customers have the option to purchase Full Value Protection at an additional cost, which offers greater coverage than the free BASIC Released Value Protection. By purchasing Full Value Protection, customers can receive additional compensation for the full value of their items in the event of damage or loss during transportation.
It is essential for customers to carefully consider the value of their items and choose the appropriate level of protection that best suits their needs. By being well-informed of their options, customers can make the best decision for their items and ensure that they are adequately protected during transportation.
Check out these resources and pamphlets prepared by the federal government for your benefit: Your Rights and Responsibilities When You Move and Protect Your Move .
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