What People Moving from Denver Ought to Understand about the Valuation of Their Possessions.

The valuation of goods being shipped in any move of a person, family, or business from Denver to some other place – or from anywhere to anywhere – is stringently regulated by the federal government.

man putting books in a moving boxIt is true, for the most part, that your moving company is legally liable for any loss of or damage to your personal items at any time during the haul. It’s also liable for loss and damage while its crews are in direct contact with your household goods in satisfaction of any other Denver moving services you chose. Such services should be identified on the bill of lading: packing, unpacking, disassembly and reassembly, for example.

That said, there are limits to your moving company’s liability. Those limits are established by the federal Surface Transportation Board’s Released Rates Order. You can look at a current copy of it here.

The important thing is, know what options you have available to you for the security of your belongings. And know your Denver moving company. Just because a mover tells you his company is “fully insured and bonded” is no irrefutable promise that your items themselves are automatically covered. On the same score, your local mover being affiliated with a well-known national van line is no unquestionable warranty that you’re protected either. In both events, you could find it necessary to buy extra third-party liability insurance. Your mover may offer to sell it to you, but he’s not legally required to sell it to you. Ask questions when you first meet in order to ferret out  precisely what’s necessary.

Keep this in mind when you’re researching your options here in Denver: Two different measures of moving-company liability are relevant to interstate moves – Full Replacement-Value Protection and Waiver of Full Replacement-Value Protection, or Released Value.

 A-1 Freeman Moving Group Denver Moving Terms Infographic

 

Obviously, Full Replacement-Value Protection gives you the fullest coverage. But choosing it means your move will cost you more. With this degree of liability (subject to allowable exceptions in your mover’s tariff), your mover will either arrange for whatever repairs are required to reinstate a damaged article to the condition it was in when you first gave it to him and his crew … or he’ll replace it more. Whatever valuation you and your mover mutually consent to, it has to be included in your mover’s tariff. Note also that movers are authorized to limit their Full Replacement-Value liability for loss or damage of items valued exceedingly high. Those would be items valued at $100 or more per pound, such as jewelry, antiques, silverware, china, oriental rugs, and so forth. Seek further details on all this from your mover. Ultimately, though, it falls on your shoulders to make the most accurate declaration.

If you opt to go with a Waiver of Full Replacement-Value Protection, or Released Value, you will, of course, receive minimal liability protection. But it won’t cost you anything. What this degree of protection does is limit your mover’s liability to no more than 60 cents per pound, per article. Clearly, that wouldn’t afford you enough of a reimbursement to replace any piece valued higher than 60 cents per pound! Items like stereo equipment, gym equipment, computer hardware, and computer software are thus considerably more at risk. That’s something to mull over before you [[commit in writing to|contract with]150 any mover!

You may, though, have one other option: your existing homeowner’s policy. Review it and get together with your insurance agent to determine if there’s anything in it related to coverage of goods during a relocation. If so, you might find the minimum level of mover liability coverage – Released Value – acceptable.

Just make sure you’re onboard with what degree of protection your moving company is including in his quote: Full Protection or Released Value. That way, there won’t be any surprises with your move – or at least no[[ne that you haven’t considered!

 

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