Valuation for Georgia Moving Companies – Moving Insurance and Valuation Explained
All licensed movers (or carriers) assume a basic level of liability for the goods they transport dictated by state and federal regulation. However, for most households, the legal definition of the value of their goods is usually not sufficient and you should be aware of the amount of protection provided and any additional charges that may apply.
Before explaining the basic mandated coverage, we should mention that a very few homeowners policies may insure goods in transport, independent insurance companies sell moving insurance for the household relocation market, and Mark the Mover sells a product called valuation which affords increased levels of protection. We will describe the basic coverage, as well as all these options you have to protect your household move.
According to the Georgia Department of Public Safety, the moving company (carrier) is by default responsible for up to $ 300.00 in damages per move. ($ 2,500.00 in catastrophic, i.e. loss of entire shipment due to fire, theft, etc.) The generally accepted adjusting method to value the repair or replacement of a household item is to assign a value of $ .60 (60 cents) per pound, i.e. a 200-pound dresser or television set is limited to a value of $ 120.00. Thus, most consumers rely on specific loss prevention tools in addition to their basic relocation agreement.
Remember, if the shipper (you) does not agree to accept these limits in coverage, or another coverage option, the carrier is not required to perform the move. This may result in the loss of your deposit and additional charges if an agreement is not reached.
Many people opt for valuation, i.e. which is a fee to cover your household goods under our cargo policy. This offers greatly enhanced additional coverage against damages and / or catastrophic loss of an entire shipment.
In short, we offer three basic coverage options to choose from:
Option 1 – Basic Carrier Liability – There is no charge for basic coverage, however damages to household items is limited to $ 300.00 per move at $ .60 (60 cents) per pound of household item, and catastrophic loss is limited $ 2,500.00.
Option 2(a) – Full Replacement Value, No Deductible – Our most premium solution covers replacement or repair without deductible. A minimum of $ 5000.00 in valuation must be purchased per room moved.
Option 2(b) – Full Replacement Value with Deductible. By assuming a $ 300.00 deductible, ($ 750.00 inter-state) you (shipper) purchase valuation from the carrier (moving company) at a minimum of $ 5000.00 value per room of household goods moved. Check with Mark the Mover at 404 351 0018 for the current inter-state and intra-state valuation rates. This covers repair or replacement of any lost or damaged household items (at the discretion of the carrier).