Wednesday, March 24, 2010

Am I protected against loss of damage while my goods are in transit?

Yes, but hoe much protection you have and its cost to you depends on the "valuation" program.

The valuation option you select determines the basis upon which any claim will be adjusted and establishes the maximum liabity. The liability for loss or damage is based upon tariffs, as well as federal laws and regulations, and has certain limitations and exclusions. Valuation is not insurance; it is simply a tariff based motor carrier liability. If you desire insurance, you should consult your insurance company representative about avilable insurance coverage.

Released Rate Liability - Basic Coverage
With this type of valuation, the maximum liability for loss or damage to any article in the shipment is 60 cents multiplied by the weight of the object. This is the basic liability level and is provided at no charge. Example: 10 lb end table is damaged in transit. With 60 cents per lb liability, the maximum liablity will total $6.00. Hence, your claim settlement will total $6.00 for the damaged table.

Full-Value Coverage
Under this protection plan, if your articles are lost or damaged while in the care of your mover, either they will be repaired or replaced with like items, or a cash settlement will be made for the current makret replacement value, regardless of the age of the item. Your mover will determine the appropriate settlement method to be used.

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