One of the first things you should know is that valuation coverage is not insurance. Valuation coverage is an agreement between you and your moving company over claims and their liability for those claims. Moving companies are obligated under federal law to offer it to you – if they do not, it may be a sign that they are a disreputable or “rogue” mover.
Essentially, it means that if your goods are lost or damaged and they are at fault, the mover agrees to pay that agreed upon amount. For example, Suddath offers standard Released Value Protection (RVP) valuation coverage at $0.60 per pound of your shipment.
As part of the moving process, you will want to explore if valuation coverage will work for you, or if you’d like to insure your goods through an insurance company – by law, your mover cannot sell you insurance, and you will have to go through a dedicated company.
Learn more about your valuation coverage options in our blog post on the subject.