What Those Moving from Tulsa Should Consider about the Valuation of Their Possessions

The valuation of items being shipped in any move of a person, family, or business from Tulsa to some other location – or from anywhere to anywhere – is stringently regulated by the federal government.

man putting books in a moving boxYes, in most cases, your moving company is legally liable for any loss or destruction of your personal items during transit. It’s also liable for loss and damage while its crews are handling your belongings in fulfillment of any other Tulsa moving services for which you contracted. Such services should be noted on the bill of lading: packing, unpacking, disassembly and reassembly, for instance.

But 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 look at a current copy of it here.

The crucial thing is, know what options are accessible to you for the safeguarding of your household goods. And know your Tulsa moving company. Just because a mover puts it out that his business is “fully insured and bonded” is no promise that your belongings themselves are automatically covered. In that regard, your local mover being related to a preeminent national van line is no assurance that you’re protected either. In both situations, you may be forced to acquire additional third-party liability insurance. Your mover could offer to sell it to you, but he has no legal obligation to sell it to you. Ask questions at the very beginning to learn  exactly what’s necessary.

Don’t lose sight of this when you’re checking out your options here in Tulsa: Two different levels of moving-company liability are relevant to interstate moves – Full Replacement-Value Protection and Waiver of Full Replacement-Value Protection, or Released Value.

 A-1 Freeman Moving Group Tulsa Moving Terms Infographic

 

Obviously, Full Replacement-Value Protection affords you the most comprehensive coverage. But choosing it means your move will cost you more. With this measuer of liability (subject to allowable exceptions in your mover’s tariff), your mover will either make whatever repairs are needed 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 swap it out}95] with aa piece of similar kind and quality … or he’ll merely compensate you for the price of a replacement.

Six dollars per pound times the total weight of your shipment is the minimum level for figuring its Full Replacement Value. Some movers set the minimum value higher. Or you yourself might declare a higher value – if you{{’re not {{averse to paying more. Whatever valuation you and your mover mutually consent to, it must appear on your mover’s tariff. Note also that movers are granted authority to limit their Full Replacement-Value liability for loss or damage of belongings valued incredibly high. Those would be possessions valued at $100 or more per pound, such as jewelry, antiques, silverware, china, oriental rugs, and so forth. Seek further details on all this from your mover. In the final analysis, though, it’s your responsibility declare accurately.

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’ll pay nothing for it. What this degree of protection does is limit your mover’s liability to no more than 60 cents per pound, per article. Certainly, that wouldn’t provide you with enough of a reimbursement to replace any item valued at more than 60 cents per pound! Items like stereo equipment, gym equipment, computer hardware, and computer software are therefore considerably more at risk. That’s something to mull over before you [[commit in writing to|contract with]150 any mover!

You might, however, have one more option: your existing homeowner’s policy. Go over it and consult with your insurance agent to discover if there’s anything in it pertaining to coverage of possessions during a relocation. If so, you may find the minimum level of mover liability coverage – Released Value – acceptable.

Just make sure you’re fully apprised of what measure of protection your moving company is including in his quote: Full Protection or Released Value. That way, you should be fully prepared for whatever your move throws at you!

 

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