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Whenever people are moving they are feeling stressed and worried about the whole moving process. Will you make it in time, how to pack your entire home etc.? Another big question is whether you need valuation protection or not. When you need to pack your belongings and your valuables and you are being extra careful, it is equally important how your movers will transport them to the destination. Although it is very important to choose a reliable moving company, like Transparent International Movers, it is also important to know what valuation protection is and if you need one.
Types and meaning of valuation protection
Keeping your belongings safe during transport, is important and it is your mover’s responsibility. However, there is always a chance that some kind of damage happens, even when everybody is being careful. That is simply the way it is. You can have a smooth relocation when you are moving to the UK from USA but still there’s a possibility that something is either lost or damaged. Valuation protection is a coverage that Federal law regulates and it is a mover’s liability that covers certain damage. People assume that a moving company will cover the cost of lost or damaged belongings, but actually with valuation protection that is not the case. They will cover some part of the cost, but not the entire expense. A moving company will usually offer two levels of liability and that is basic coverage protection and full value protection.
Basic coverage protection
This is a cheaper option of valuation protection. Movers will compensate you 60 cents per pound per item in case of damage. This is not insurance, but it is a certain level of liability for a moving company. They will be liable in case of lost item or damage, but it won’t be a full amount. So if you have something valuable, better think about insurance. If you are moving abroad and you are moving boxes overseas with expensive but light equipment, you should question their value and see if this coverage is right for you.
Full value protection
Full value protection is better coverage than basic valuation protection. With this coverage, your moving company is liable and should reimburse you the value of lost or damaged items. So this is definitely the better option if you have any valuable items like artwork, antics, or something fragile. According to FMCSA, moving overseas companies can either repair the damaged item, replace it or offer you a cash settlement based on the current market value of that particular item.
However, movers are also allowed to limit their responsibility. For example, if you have an item that is of “extraordinary value” they can limit their liability. If this is the case, you should be familiar before your relocation with the exact conditions. The best thing is to have everything in writing.
Do you need valuation protection?
You should at least think about having one or another type of coverage. A lot can happen when you are moving long distance or overseas, and it is better to have some kind of protection.