The following is an explanation and
discussion of moving company insurance and valuation coverage. This information
pertains to all authorized Georgia household goods movers and their customers.
Background and Basics
All legally licensed household goods
carriers, (movers), are required to provide their customers with a policy
offering protection against transit related damage and/or loss. This policy is
known as “valuation coverage” and is prescribed
and regulated by state and federal authorities.
Customers often confuse insurance
coverage with valuation coverage however they are not the same product. Insurance
coverage provides comprehensive protection in high value claims. Insurance
policies are regulated by the state Insurance Commissioner’s Office.
A legally licensed Georgia household
goods mover is required to have a minimum of $100,000/$300,000/$50,000 Public
Liability and Property Damage Insurance and a minimum of $50,000 Cargo
Insurance. Mark the Mover, Inc. protects its customers by maintaining an insurance
policy with coverage of $3,000,000 aggregate liability and $1,000,000 aggregate
Important to Know
Smaller claims typically occur when a
customer’s furnishings receive nicks, scrapes, scratches or dents. These claims
are quite common in the moving industry. The regulatory authority that oversees
licensed movers has mandated that there must be a first tier level of
protection. This protection is known as valuation
coverage. Valuation is the liability that the mover assumes based on the
level of protection that the customer selects on the damage contract,
(valuation addendum form). For intrastate moves valuation is regulated by the
Georgia Department of Public Safety.
The valuation contract offers the
customer three options for protection against transit related damage and/or
loss. The first option is Basic Coverage and comes at no cost to the customer. Basic
coverage (Option 1) is the most economical coverage available to the customer.
However it only provides minimal protection should transit related damage or
loss occur. With this coverage the mover assumes liability for no more than .60
cents per pound per article. For example, if a 100 pound television valued at
$1,000 was destroyed during the move then the customer would only receive $60.00
in compensation, (.60 cents x 100 pounds).
The other two options are for Full Value Protection
however they both come at an additional cost to the customer. Option 2 (a) is Full
Value Protection with no deductible. The current government regulated cost for
this coverage is $13.00 per thousand of declared value. Option 2 (b) is Full Value
Protection with a $300 deductible. The current government regulated cost for
this coverage is $4.25 per thousand of declared value. Both of these options require
the customer to declare a value for his/her goods. The required amount for the
declared value must be an amount equal to or exceeding $5,000 per room
excluding halls, attics, garage, closets and baths. A self storage unit of 10 x
10 will constitute a room.
Filing A Claim
Should an item(s) be damaged or lost
while in the care, custody and control of Mark the Mover, Inc. then it is
required that the customer complete a Claim Form and provide a written account
of the damage or loss. A claim is not established until this is done and the
written form must be received by the mover’s Claims Department within ninety
(90) days from the date of the move.
Once a claim has been established the
customer can expect Mark the Mover, Inc. to offer one (1) of the following
resolutions for each damaged or lost item:
the item(s) with a similar or like item
a cash settlement
The terms of the damage contract
afford the mover the option of which method of settlement to provide. However,
as a general rule Mark the Mover, Inc. will work with the customer in order to
reach a mutually agreeable resolution. The proposed resolution to a claim will
always be in accord with the level of coverage that the customer has selected.
Additionally, it should be noted that the mover’s
liability will be limited in certain instances. For example: If damage or loss
occurs to an article of extraordinary value, (defined as an item whose value is
greater than $100 per pound), then such items must be declared and specifically
listed by the customer on the bill of lading prior to the move. Also, items
that have been packed by owner, (PBO), do not generally fall under the mover’s
Mark the Mover, Inc. educates and
trains its crews on proper moving procedures in order to provide customers with
a quality moving experience. That said
human error can and does occur even with the best moving company. Therefore we
strongly recommend that you call our Claims Manager prior to making your move.
He will be happy to answer any questions that you have concerning transit
related damage. He will also be able to assist you in selecting the level of
damage protection that is appropriate for your move.
As a Mark the Mover, Inc. customer we value you and your
business. Moving your personal possessions is a serious endeavor and we want
your moving experience to be positive and worry free. It is our belief that a
customer’s knowledge, understanding and preparation are key components in
achieving a successful move.