The Federal Laws that apply to state to sate movingcompanies are a little loose, but with clear interpretation they beginto make perfect sense. When you hire a state to state mover you willfaced with a choice of two types of moving valuation. Full valueprotection offers is considered the more comprehensive of the two typesof insurance. Of course, not everyone feels they need such extensivecoverage and they can opt for what is known as released value.

Full Value Protection

Federallaw provides full replacement value for anything in the entire shipmentwhen the mover occurs loss or damage. Replacement value refers to thevalue of the article when replaced with a comparable item in today’smarket, not necessarily what you paid for it. Thus, if your televisionis five years old and you would have a hard time pulling $400 for it onEBay, you would still be awarded compensation for what it would costyou to replace the size, brand name, and quality of the televisiontoday, which is on average $700 to $900. The same applies to computersand laptops, jewelry, and other basic items that depreciate in valuebut are more expensive to replace. This is generally the insurance thatwill take place unless you specify otherwise. However, it is stillalways a good idea to check and double check that you have authorizedthis type of insurance coverage.

Don’t getexcited when there is a knick in one of your laptop cases upon arrival.Your mover, under Federal law, has options when it comes to living upto the full value protection laws. The company can opt to repair theitem if possible. The company might opt to replace the item with asimilar item. In some cases, you can fight this if the initial item hadsubstantial sentimental value or for career purposes you require theexact same item. The company might offer a cash settlement for the costequal to the repair of the item, or the company might offer a cashsettlement for the current marketplace value for you to replace it atwill.

The moving company also has a right tolimit their loss on your entire shipment, which can be over ruled byyou provided that you claim in advance any and all articles that exceed$100 per pound. This can be tricky language for many of us, but for themost part you can assume that your finer jewelry, china, silver,antiques, any furs, and some family heirlooms, and in rare cases,laptops all fit into that category. When you and the moving company ofyour choice are settling the paperwork before the move, ask directquestions about this limitation and make sure that everything thatqualifies gets listed and documented. Some items a photograph willsuffice and other items a receipt may be necessary if you find yourselfin court over your valuables that were lost or damaged. At least besure you have photographic evidence.

The moving company that you are working with will set the price for the insurance plan coverage.Most of the insurance companies that underwrite the moving companiesoffer deductible plans to help offset the costs of purchasing moverliability insurance. Be sure that the moving company you work with iswilling and able to explain their insurance plans to your satisfactionbefore finalizing any agreement.

Released Value Insurance

Areleased value plan is offered at no cost and covers very little underthe current laws. For any given article or item within the movers’possession that is either lost or damaged, the client has the right tocollect only 60 cents per pound. A seven pound laptop, which is on theheavy end these days, would only be worth $4.20 in compensation underthe released value plan. A ten pound stereo would be written off at$6.00.

There is no assumption made that you wantthis insurance plan. It is free of charge but you must specificallydetail on the paperwork that you are interested in this plan over thefull value protection plan. If you do not indicate that you wouldprefer the released value insurance, you will be charged for the fullvalue protection plan and compensated under those laws in the event ofloss or damage.

Each of these insurance plans isgoverned specifically by the Department of Transportation rather thanunder the U.S. Insurance and state insurance laws. Therefore, not allU.S and state insurance actions can be taken under the same assumptionsas other types of insurance.

Third Party Insurance

Some clients opt to carry a third party insurance whenmoving. The moving company you select can help you obtain and shouldeven recommend you carry third party insurance. Under a third partycarrier, the normal applicable standards that reimburse 60 cents perpound of the shipment still apply, and the third party insurance thenunderwrites any and all claims thereafter.

Themoving company must provide you with a copy of the policy as well asany other pertinent paperwork as it applies to third party insurance.Third party insurance falls under state insurance laws.

Some homeowner’s insurance plans offer this type of coverage for no additional cost.

If you are already covered, you can provide the moving company with a copy of this insurance plan.In other cases, you can purchase third party insurance on your own andprovide the insurance company with the copies. Make sure you know whatis covered, the details of filing a claim, and how long the turn aroundmay be on larger items when making this decision.