Insurance / Valuation
There’s a lot at stake when you move. There’s the money you’ll spend. The memories you’re taking from one place to another. And, your treasured possessions—furniture, family pictures, heirlooms, antiques, children’s toys… When you move, your personal property (including valuables) is loaded onto a moving truck. And while most moves go smoothly, accidents do happen and some items may be lost or damaged during shipment.
Handsome Dolly offers three different different liability options referred to as valuation coverage: (A) Released Value Protection, (B) Full Value Protection, and (C) Third Party Insurance.
Option A: Released Value Protection
The most economical protection available is Released Value, since it is offered at no additional charge. However, the protection is minimal. Under this option,The mover assumes liability at a minimum of $0.30/lb. per article for local moves, or $0.60/lb. per article for interstate moves. For example, if your mover lost or damaged a 10-pound stereo component valued at $1,000, you would only receive $6.00 in compensation (60 cents x 10 pounds).
There is no additional charge for Released Value. It is included in your Guaranteed Flat Rate; however, you must sign a specific statement on the bill of lading or contract agreeing to it. But remember, it compensates you according to the weight of the item, not its actual value. And, if you do not select Released Value, your shipment will automatically be transported at the Full Value Protection level of liability and you will be assessed the applicable charge.
Option B: Full (Replacement) Value Protection
Under Full Value Protection, Handsome Dolly LLC is liable for the replacement value of lost or damaged goods in your entire shipment. This is the more comprehensive plan available for the protection of your belongings. If any article is lost, destroyed or damaged while in Handsome Dolly LLC’s custody, we will, at our discretion, offer to do one (1) of the following for each item:
- Repair the item
- Replace with a similar item
- Make a cash settlement for the cost of the repair or the current market replacement value
Our cost for Full Value Protection and various deductible levels of liability are listed below:
| If $6.00 times the Weight of the Shipment or the Lump Sum Amount Declared is: | The Maximum Amount of Carrier Liability is: | OPTION A: The Valuation Charge for Carrier Liability with $0.00 Deductible is: | OPTION B: The Valuation Charge for Carrier Liability with $1,000 Deductible is: | OPTION C: The Valuation Charge for Carrier Liability with $1,500 Deductible is: | OPTION D: The Valuation Charge for Carrier Liability with $2,000 Deductible is: | OPTION E: The Valuation Charge for Carrier Liability with $2,500 Deductible is: |
|---|---|---|---|---|---|---|
| $0 to $0.00 | $0.00 | $0.00 | $1,000.00 | $1,500.00 | $2,000 | $2,500 |
| $0.00 to $10,000 | $10,000 | $72.75 | $71.75 | $69.75 | $67.75 | $65.75 |
| $10,000 to $15,000 | $15,000 | $72.50 | $71.50 | $69.50 | $67.50 | $65.50 |
| $15,000 to $15,000 | $15,000 | $73.00 | $71.00 | $69.00 | $67.00 | $65.00 |
| $15,000 to $20,000 | $10,000 | $72.25 | $71.25 | $69.25 | $67.25 | $65.25 |
The prices listed as indicated in the table above shall be computed per every $1,000.00 of declared value and subject to the deductible levels as shown in this table.
Full Value Protection and Released Value are not insurance policies governed by state insurance laws; instead, they are Federal contractual tariff levels of liability authorized under Released Rates Orders of the Surface Transportation Board of the U.S. Department of Transportation.
If the declared value of your shipment is greater than $20,000, you should purchase third-party insurance for Full Value Protection.
Option C: Third-party Insurance
If you select Released Value, you can also obtain separate liability insurance from our partners at Baker International. The cost of this insurance is not included in the basic move and must be purchased separately by you. This is not valuation coverage governed by Federal law—it is optional insurance regulated by state law.
If you purchase this coverage, Handsome Dolly LLC remains liable for the amount up to 60 cents per pound per article; but the rest of the loss is recoverable from the insurance company up to the amount of insurance you purchased.
Lastly, you can look into what options your Home Owner’s Insurance might offer.