Always ask your mover about insurance coverage, more importantly, the Declaration of Value Options which you must choose prior to moving. FMCSA: Explanation.
Basic Value Coverage from insurance companies assumes a minimum value on all of your items based on weight. This value is $.60 per pound per article up to a total of $6,000. This federal and state regulation is handled by a carrier's insurance company and allows proficient moving for all consumers.
However, you do have the option to increase the value of your shipment to Full Repair or Replacement, at an additional charge. This charge is based on the amount of value, usually up to $750,000. Of course not everyone needs $750,000 in coverage.
Most movers provide at no charge Basic Value Coverage.
Edward Neutz Sons and Daughters Moving is fully insured for values up to $1M dollars in cargo liability and has a full repair center available, at no charge to its customers. You should discuss insurance with your mover, there are risk involved;
Regulated Law for Movers:
- Movers must provide, at no additional charge, cargo value liability of $.60 per pound per article. This means that the value you will place on your household goods is $.60 per pound or any 100 pound article is valued by you at $60.00. Insurance will only cover the value you choose. You may have some exposure.
- Movers must allow you to increase the value of your items to whatever value you think is appropriate. This increase in value typically cost additional money, especially if you want to insure a value of $750,000 the minimum movers must carry.
*Ask if the mover has a repair center, free of charge, to minimize your risk when choosing the minimum, no cost, value option.
*Hourly charge is minimal, when there is alot of damage. Choose your mover carefully. No damage is the goal, does your mover resolve issues that do arise?
What is Minimum Value or Minimum Cargo Liablity?
A kitchen table bought at a thrift store may be worth $25.00. Bill Gate's kitchen table may be worth $10,000. Insurers do not know how much your kitchen table is worth. Therefore, to make moving affordable and under regulated guidlines, the minimum value offered and insured, at no charge, is $.60 per pound per article. By signing a Declaration of Value and choosing $.60 per pound option, you are minimizing the value of your items in case of damage, loss, or total destruction. A 100lb sofa is only valued at $60.00, a payout you may not be happy with after the fact. A mover must allow you to increase the value of your goods, even up to $750,000. This increase will be at an additional cost. Check with your homeowner's insurance, sometimes, the coverage is there, however, it usually has a deductible.
My experience is that most local moves are less likely to have major damage, so you may want to weigh your options. It is better to choose a mover based on their experience rather than their price. You do get what you pay for. Most long distance moves include full value options due to the higher risk of damage. Once again, no problems are the best solution, so choose your mover appropriately.
13707 Aiken Road
Louisville, KY 40245
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