What is Valuation?
Moving valuation is coverage for items that are lost, destroyed, or damaged during a move, and it is the carrier’s (the moving company you hire) maximum level of liability.
The federal government mandates that every licensed moving company must offer a minimum of two levels of protection for the value of the cargo they’re carrying when they move your household goods to a new home. Please see below to learn more about your valuation options.
Midwest Moving Company – Valuation Options
(Excluding Intrastate Moves for the State of North Carolina)
Full Value Protection (Recommended)
You want to be sure your items are fully covered in the event of an accident or a loss while your belongings are in our care. It is important that you know and understand what level of coverage you have for your belongings. If you decide to purchase one of our valuation options, then your goods will be covered at the current market value to either repair or replace the items, with a maximum coverage limit of $6 multiplied by the weight of your shipment, unless you specify that your shipment is worth more than $6 multiplied by the weight of your shipment. The minimum value your goods will be covered at is $10,000 or $6 multiplied by the weight of your shipment, whichever is greater. If you believe the value of your goods exceeds $6 multiplied by the weight of your shipment, we request that you inform your Moving Specialist to ensure you have the proper coverage for your belongings.
Basic Value Protection (Minimal Protection)
If you do not want to purchase any valuation option, then you can select to have your goods covered at the federal minimum of $0.60 per pound per article. For example, if you filed a damage claim for a destroyed 10-pound flower vase then you may receive up to $6.00 (10lbs*$0.60), even if the item is worth $200. If you would have purchased one of the valuation options in this example then you could receive up to $200 or the current market value of the item to repair or replace the damaged flower vase.
This option is not recommended but depending on your move, it may make sense to select this option.
North Carolina Intrastate Customers Only
(Moving WITHIN the State of North Carolina)
If you are moving within the state of North Carolina (Raleigh, NC to Charlotte, NC) then your move is subject to the state issued tariff which limits the valuation options we can offer you as a customer. Below are the options the state of North Carolina offers for intrastate moves. If you have high valued items, then you can purchase other valuation options to ensure your belongings are fully covered.
Option 1: North Carolina Basic Value Protection:
- This option is at no additional cost to you as the customer and covers your goods at $0.60 per pound with no deductible
Option 2: North Carolina Full Value Protection:
- This option covers your goods at $4.00 per pound per article in the event of a damaged item or loss claim. The total value of your shipment is calculated by taking $4 multiplied by the weight of your shipment.
Valuation is Not Insurance
Valuation options are not an insurance plan and are not governed by any state insurance laws. Valuation options are authorized by the U.S. Department of Transportation – Released Rates Orders of Surface Transportation Board. For your reference, please visit the Surface Transportation Board’s website to learn more about how valuation works when filing a lost or damaged item claim. Click HERE to learn more about valuation on the U.S. government’s website.