Dallas Residential Moving Company Answers – What is Valuation Coverage?
Table of Contents
Dallas Residential Moving Company Full Value Protection
Dallas Residential Moving Company Released Value Plan
I’m Moving, Explain Valuation Coverage?
Moving and relocating is considered to be one of the most stressful events in a person’s life. People typically hire a local mover or relocation service, sometimes utilizing a “moving and storage” service if the new home isn’t quite ready, and entrust total strangers to move all their precious belongings from one place to the next. Ensuring their valuable belongings arrive safely and intact may be one of the most crucial aspects of moving. With everything else going on, properly valuating and insuring your belongings can easily be overlooked by both Dallas residential moving and commercial moving customers.
Local movers and Relocation services like A Plus Quality Dallas Movers perform this task. Movers are liable for the safe transportation of all belongings. According to the U.S. Department of Transportation, “…Under Federal law, interstate movers must offer two different liability options referred to as valuation coverage: (1) Full Value Protection and (2) Released Value” (USDOT-FMCSA, 2006) Moving companies are obligated to supply this information to interstate movers. The level of coverage chosen will determine the amount that will be reimbursed in the event of a claim.
Dallas Residential Moving Company Full Value Protection
Under the Full Value Protection, an additional fee for the replacement value of any damaged or lost goods is assessed. Moving companies have the discretion of a: repairing the item, b: replacing it with an item of equal value or c: (paying) cash for actual market replacement value or for the repair. However, the liability may be limited to the loss or damage of items of “extraordinary” value unless they are listed separately on the shipping documents. Always read and understand all documents that are being signed, and never waive any of rights.
Dallas Residential Moving Company Released Value Plan
Under the Released Value plan, offered at no extra cost, the protection is nominal. Under this plan, the mover covers no more than 60 cents per pound per article.
Both of these programs are tariff levels of liability established by Federal contract.
Additional coverage may be purchased through a third party. Check your current homeowner’s policy and contact your insurance agent to see if your policy includes extended coverage. Take the necessary time to properly evaluate your belongings prior to your move. Both residential moving and office moving customers should read the fine print on the contract carefully and understand what actions may limit liability.
Understanding Your Mover’s Valuation Responsibility
Understand the valuation options and limitations in all situations, regardless if the move is in state or out of state. Most moves are uneventful, but accidents do happen; ensure that the property is adequately covered – for damage, total loss or theft. For additional information, please visit U.S. Department of Transportation’s website at: https://www.protectyourmove.gov/consumer/awareness/valuation/valuation-insurance.htm.
Don’t leave it to chance. If you have valuation questions please contact us by phone or by using our A Plus Quality Dallas Mover contact form on our website. A Plus Quality Dallas Movers, The Dallas Metroplex’s Trusted Local Mover.
