Already included in the mover's rates is protection against possible loss or damage of your household goods at 60 cents per pound. However, you may purchase additional protection and set the value of your belongings for an amount that makes you comfortable. Be sure to speak with your insurance agent, who will help you check your existing insurance policies for relocation protection.
BASIC COVERAGE: at 60 cents per pound per article, this protection ensures recovery of articles determined by the article's weight multiplied by 60 cents. Therefore, if a stereo system was damaged during your move, it's weight was 25 pounds. 25 x $0.60 = $15.00 is what can be recovered. This is a minimal protection that comes included in mover's rates.
ACTUAL CASH VALUE: this protection ensures recovery at the actual cash value of your items, it covers the depreciated value of your goods and is determined by such factors as the cost of the item new, its age, its condition when received by mover, and the value you declared. Most movers charge for this protection, the costs will be stated on mover's freight bill.
FULL VALUE: this protection cost the most as it will recover the replacement value of any lost or damaged item. With this coverage your mover may choose to replace, reimburse or repair the damaged item. Remember to declare items of extraordinary value (items with value of over $100 per pound). The mover may offer this level of protection with deductibles. In this case you would be responsible for deductibles, unless the item was lost by the mover.
LIABILITY FOR VALUABLES
Items of extraordinary value (with cost of over $100 per pound), such as antiques, jewelry, valuable papers, currency, etc., should be separately described on the inventory with a value of each item indicated on the list. It is best not to ship valuable, such as jewelry or currency with your regular household goods, keep those items on you at all times.