Tag Archives: insurance

Are You Underinsured?

“What is carrier valuation?” Carrier valuation is a declaration by the transferring employee (person being moved) of the maximum amount of the carrier’s liability in the event of a transit-related loss or damage of their household goods.

Valuation is not insurance. In other words, valuation provides a certain level of protection for loss or damage caused by a carrier while the shipment is in the care, custody, and control of the carrier. The amount of coverage is predetermined prior to the move and may not be sufficient in the event of a loss.

WHAT DOES IT COVER?

When you move, your personal property is loaded onto a moving truck. While most moves go smoothly, accidents do happen and some items may be lost or damaged during shipment.  Prior to the move a carrier representative will discuss with the transferring employee the amount of liability the carrier is responsible for in the event of loss or damage. At the time of the move a descriptive inventory list will be developed by the carrier and the transferring client. This list includes the count and condition of the shipped items when they come into the care, custody, and control of the carrier. At times the client may have certain items that carry a higher value than normal such as artwork, jewelry, collectibles etc….

It is our recommendation that items of high value such as jewelry, coins, and collectables be moved personally by the transferring employee.  If they are is unable or unwilling to do this, then these items must be recorded and reported on a special form called the high value inventory form.   The determination of the value of the transferring employee’s entire shipment is a very important part of the moving process and is pre-determined by the transferring employee prior to the move.

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