Released value vs full value protection, explained simply

Every moving quote includes a line about liability or valuation, and most people skim right past it. That is understandable, but it is also the part of the contract that decides what happens if your sofa gets torn or a TV arrives cracked. Here is a plain-language guide to your options.

Released value protection

Released value protection is the basic level of liability that movers must offer at no extra cost. For interstate moves it is set by federal rules at 60 cents per pound, per article. That means a 50 pound flat-screen TV valued at $1,200 would be covered for just $30.

Released value is fine for older furniture and simple moves, but it is not insurance in the way most people think of it. It rarely covers the real cost of repairing or replacing a damaged item.

Full value protection

Full value protection makes the mover responsible for the replacement value of lost or damaged goods, up to the total declared value of your shipment. If an item is damaged, the mover can repair it, replace it with a similar item or pay you its current market value.

• Priced as a rate per $1,000 of declared value, often with a deductible choice
• Covers items packed by the mover in full
• Owner-packed boxes may have limits unless you choose premium coverage
• High-value items over $100 per pound should be listed on the inventory

How to estimate your declared value

A quick rule of thumb is $5,000 to $8,000 per furnished room, but a walkthrough of your major items is more accurate. Add up the replacement cost of furniture, electronics, appliances you are moving and art. Many three-bedroom homes land between $40,000 and $70,000.

Third-party moving insurance

Some homeowners and renters insurance policies cover belongings in transit, and separate moving insurance policies exist. Check your policy wording before moving day and ask your agent whether items are covered while in a moving company's possession.

Protection is cheapest before moving day. Decide your coverage when you book, not after something breaks.

How to file a claim

• Note visible damage on the inventory before the crew leaves
• Take clear photos of the item and any damaged packaging
• Keep receipts or proof of value if you have them
• Submit your claim in writing within the deadline in your contract, usually 30 days for local moves and 9 months for interstate moves

A good mover will acknowledge your claim quickly, send a furniture repair technician if needed and resolve most claims within a few weeks. Ask about the claims process before you book. How a company talks about claims tells you a lot about how they will handle them.