Moving Valuation Options and Third Party Moving Insurer Options
Coverage For Your Move
Homeowners or Renters Insurance
Seldom, if ever, will a homeowner insurance policy
cover your household goods in transit. If a homeowner
policy does provide coverage, it will be on a very
limited basis. It may not compensate you for the many
types of damage that typically occur in association
with a household goods move. It is best to contact
your home owner insurance agent to acquire the most
accurate information regarding your policy.
You have two options when you purchase moving insurance:
Full Replacement Value - Valued Inventory
This option allows coverage for specific items. For
proper coverage, you must list and declare a replacement
value on all of the items that you wish to insure.
Items may be grouped together, such as clothing and
bedroom sets. Please remember in the event that a
claim is filed for any of those sets, the settlement
amount may reflect the average value of the declared
items in that set.
Full Replacement Value - Lump Sum (Available on Interstate shipments only)
The total coverage amount is determined when you,
the assured, place a lump sum value on all of your
goods to be insured, reflecting a minimum of $6.00
times the total weight of the shipment. Any items
individually valued at $500 or more need to be listed
separately in order to be covered at their specific
replacement value. Items under $500 do not need to
be listed to be covered.
Both options utilize the same policy, refer to the
same Terms and Conditions and are based on the same
The main difference is that with Full Replacement
Value - Valued Inventory, you need to list
each and every item that you are moving and need coverage
for, and declare the replacement value amount of each
item. Items not listed under this option are not covered;
however, to fully insure your shipment, you need to
list all items being shipped.
With , you can simply declare a lump sum amount,
reflecting the total coverage you desire for your
shipment. With this option, you only list those items
that are individually valued at $500 or higher. These
items will be considered as part of the declared lump
sum and not calculated as additional value, as long
as their total value is not higher than the total
Replacement Value declared.
With the Full Replacement Value - Lump Sum option,
the declared value must be a value equal to at least
$6.00 times the total weight of your shipment. This
will prevent your goods from being underinsured.
To purchase an insurance policy for your move, please
Basic Liability is the minimum coverage under which
your goods can be released and is provided by your
mover at no additional cost. The maximum liability
for your shipment is established by multiplying the
weight by $0.60 per pound per article or $0.30
per pound per article – whichever is
required by DOT regulations in your State.
Example: A dresser
weighing 150 lbs:
- $0.60 per pound per article: $90.00
- $0.30 per pound per article: $45.00
Example: A stereo weighing 10 lbs:
- $0.60 per pound per article: $6.00
- $0.30 per pound per article: $3.00
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