What Those Moving from Little Rock Should Consider about the Valuation of Their Household Goods.

The valuation of goods being shipped in any relocation of a person, family, or business from Little Rock to another location – or from anywhere to anywhere – is severely regulated by the federal government.

man putting books in a moving boxTo be clear, your moving company is, in most circumstances, legally liable for any loss or destruction of your household goods during transit. It’s also liable for loss and damage while its crews are physically touching your household goods in satisfaction of any other Little Rock moving services for which you contracted. Such services should be identified on the bill of lading: packing, unpacking, disassembly and reassembly, for instance.

But 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 obtain a current copy of it here.

The essential thing is, know what options are open to you for the security of your possessions. And know your Little Rock moving company. Just because a mover tells you his firm is “fully insured and bonded” is no guarantee that your belongings themselves are automatically covered. By the same token, your local mover being in partnership with a leading national van line is no promise that you’re protected either. In both cases, you could find it necessary to get yourself some added third-party liability insurance. Your mover might offer to sell it to you, but he’s not forced by law to sell it to you. Ask questions up front to figure out  specifically what’s what.

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

 A-1 Freeman Moving Group Little Rock Moving Terms Infographic

 

To be sure, Full Replacement-Value Protection gives you the fullest coverage. But selecting it means you’ll pay more for your move. With this level of liability (subject to allowable exceptions in your mover’s tariff), your mover will either do whatever repairs are advisable to restore a damaged item 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 come to terms with, it has to be included in your mover’s tariff. Note also that movers are permitted to limit their Full Replacement-Value liability for loss or damage of goods valued incredibly high. Those would be belongings valued at $100 or more per pound, such as jewelry, antiques, silverware, china, oriental rugs, and the like. Get an explanation of all this from your mover. In the final analysis, though, it’s your responsibility declare accurately.

If you choose to go with a Waiver of Full Replacement-Value Protection, or Released Value, you will, of course, receive minimal liability protection. But you won’t pay anything for it. What this degree of protection does is limit your mover’s liability to no more than 60 cents per pound, per article. Certainly, that’s not going to provide you with enough of a reimbursement to replace any item valued above 60 cents per pound! Things like stereo equipment, gym equipment, computer hardware, and computer software are thus much more at risk. That’s something to consider before you [[commit in writing to|contract with]150 any mover!

You might, however, have one additional option: your present homeowner’s policy. Take a look at it and consult with your insurance agent to see 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 clear about what degree of protection your moving company is including in his quote: Full Protection or Released Value. That way, you should be completely prepared for just about anything your move throws at you!

 

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