What Those Moving from Colorado Springs Ought to Consider about the Valuation of Their Household Goods

The valuation of possessions being shipped in any relocation of a person, family, or business from Colorado Springs to some other place – or from anywhere to anywhere – is strongly regulated by the federal government.

man putting books in a moving boxTo be clear, your moving company is, in almost every instance, legally liable for any loss of or damage to your personal items during transit. It’s also liable for loss and damage while its crews are handling your belongings in satisfaction of any other Colorado Springs moving services for which you contracted. Such services should be listed on the bill of lading: packing, unpacking, disassembly and reassembly, for instance.

That said, there are limits to your moving company’s liability. Those limits are established by the federal Surface Transportation Board’s Released Rates Order. You can examine a current copy of it here.

The important thing is, know what avenues are open to you for the safety of your possessions. And know your Colorado Springs moving company. Just because a mover asserts that his company is “fully insured and bonded” is no promise that your goods themselves are automatically covered. By the same token, your local mover being associated with a major national van line is no assurance that you’re protected either. In both situations, you might find it necessary to acquire added third-party liability insurance. Your mover may offer to sell it to you, but he’s not legally required to sell it to you. Ask questions when you first talk in order to determine  just what’s what.

Don’t forget this when you’re looking into your choices here in Colorado Springs: Two different degrees of moving-company liability pertain to interstate moves – Full Replacement-Value Protection and Waiver of Full Replacement-Value Protection, or Released Value.

 A-1 Freeman Moving Group Colorado Springs Moving Terms Infographic

 

To be sure, Full Replacement-Value Protection provides you with the fullest coverage. But picking it means your move costs will rise. With this measuer of liability (subject to allowable exceptions in your mover’s tariff), your mover will either arrange for whatever repairs are required to return a damaged article to the condition it was in when you first turned it over to him and his crew … or he’ll ’re willing to pay more. Whatever valuation you and your mover come to terms with, it must 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 extraordinarily high. Those would be goods valued at $100 or more per pound, such as jewelry, antiques, silverware, china, oriental rugs, and the like. Seek an explanation of all this from your mover. In the end, though, it’s your responsibility make the right declaration.

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 it won’t cost you a cent. What this degree of protection does is limit your mover’s liability to no more than 60 cents per pound, per article. Clearly, that wouldn’t provide you with enough of a reimbursement to replace any possession valued at more than 60 cents per pound! Things like stereo equipment, gym equipment, computer hardware, and computer software are therefore significantly more at risk. That’s something to ponder before you sign a contract!

You could, though, have one more option: your existing homeowner’s policy. Go over it and consult with your insurance agent to see if there’s anything in it pertaining to coverage of goods during a relocation. If there is, you might find the minimum level of mover liability coverage – Released Value – satisfactory.

Just make sure you’re onboard with what level of protection your moving company is including in his quote: Full Protection or Released Value. That way, your move won’t slap you with any absolutely unusual surprises!

 

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