What Those Moving from Little Rock Ought to Understand about the Valuation of Their Household Goods.

The valuation of goods being trucked in any relocation of a person, family, or business from Little Rock to some other locale – or from anywhere to anywhere – is strongly regulated by the federal government.

man putting books in a moving boxTo be clear, your moving company is, in most cases, legally liable for any loss of or damage to your belongings at any time during the haul. It’s also liable for loss and damage while its crews are caring for your household goods in satisfaction of any other Little Rock moving services you purchased. Such services should be described 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 determined by the federal Surface Transportation Board’s Released Rates Order. You can examine a current copy of it here.

The critical thing is, know what options you have available to you for the security of your possessions. And know your Little Rock moving company. Just because a mover informs you his firm is “fully insured and bonded” is no irrefutable warranty that your belongings themselves are automatically covered. What’s more, your local mover being in partnership with a major national van line is no insurance that you’re protected either. In both situations, you may find it necessary to purchase added third-party liability insurance. Your mover could offer to sell it to you, but he has no legal obligation to do so. Ask questions when you first talk in order to ferret out  just what’s what.

Keep this top-of-mind when you’re determining your choices here in Little Rock: Two different levels of moving-company liability apply to interstate moves – Full Replacement-Value Protection and Waiver of Full Replacement-Value Protection, or Released Value.

 Oil Capitol Relocation Little Rock Moving Terms Infographic

 

Obviously, Full Replacement-Value Protection gives you the most comprehensive coverage. But picking it means the price of your move will be higher. With this level of liability (subject to allowable exceptions in your mover’s tariff), your mover will either take care of whatever repairs are needed to reinstate a damaged object to the condition it was in when you first gave it to him and his crew … or he’ll swap it out}95] with an item of comparable kind and quality … or he’ll just compensate you for the price of a replacement.

Six dollars per pound times the full weight of your shipment is the minimum level for figuring its Full Replacement Value. Some movers set the minimum value higher. Or you yourself could declare a higher value – if you{{’re not {{averse to paying more. Regardless of what valuation you and your mover come to terms with, it has to be included in your mover’s tariff. Note also that movers are allowed to limit their Full Replacement-Value liability for loss or damage of belongings valued incredibly high. Those would be pieces valued at $100 or more per pound, such as jewelry, antiques, silverware, china, oriental rugs, and the like. Seek further details on all this from your mover. In the final analysis, though, it’s your responsibility declare accurately.

If you opt for a Waiver of Full Replacement-Value Protection, or Released Value, you will, of course, be getting minimal liability protection. But you won’t pay anything for it. What this level of protection does is limit your mover’s liability to no more than 60 cents per pound, per article. Obviously, that won’t give you enough of a reimbursement to replace any possession valued at more than 60 cents per pound! Things like stereo equipment, gym equipment, computer hardware, and computer software are therefore significantly more at risk. That’s something to mull over before you [[commit in writing to|contract with]150 any mover!

You could, though, have one additional option: your present homeowner’s policy. Study it and consult with your insurance agent to see if there’s anything in it about coverage of possessions during a relocation. If that’s the case, you may find the minimum level of mover liability coverage – Released Value – adequate.

Just make sure you understand 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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