What Those Moving from Colorado Springs Should Know about the Valuation of Their Household Goods.

The valuation of possessions being shipped in any move 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 harm to your personal items during transport. It’s also liable for loss and damage while its crews are handling your household goods 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 get your hands on 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 assurance that your goods themselves are automatically covered. Also, your local mover being associated with a major national van line is no insurance that you’re protected either. In both cases, you may find it necessary to purchase additional third-party liability insurance. Your mover may offer to sell it to you, but he has no legal obligation to sell it to you. Ask questions in your preliminary negotiations to determine  just what your course of action should be.

Don’t forget this when you’re looking into your options here in Colorado Springs: Two different levels 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

 

Certainly, Full Replacement-Value Protection affords you the most all-encompassing coverage. But choosing 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 gave it 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 possessions valued at $100 or more per pound, such as jewelry, antiques, silverware, china, oriental rugs, and so forth. Seek an explanation of all this from your mover. In the end, though, it lies with you to make the appropriate 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 you won’t pay anything for it. What this level of protection does is limit your mover’s liability to no more than 60 cents per pound, per article. Obviously, 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 [[commit in writing to|contract with]150 any mover!

You could, though, have one additional option: your existing homeowner’s policy. Re-examine it and consult with your insurance agent to determine if there’s anything in it regarding coverage of goods during a relocation. If that’s the case, you might find the minimum level of mover liability coverage – Released Value – acceptable.

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, there won’t be any surprises with your move – or at least no[[ne that you haven’t thing that’ll send you into a tailspin!

 

Request a free quote