Yes, but how much protection you have and its cost to you depends upon the valuation coverage you selected. This can be one of the most confusing aspects to moving but it is important that you understand what is being provided to you.
The valuation option you choose determines the basis upon which any claim will be adjusted and the maximum liability of the carrier. The liability of a carrier for loss or damage is based upon the carrier's tariffs, as well as federal laws and regulations that have certain limitations and exclusions. Valuation is not insurance. This is important to understand. It is the liability of the moving company. Check with the provider of your homeowner's insurance to find out if you are covered for moving. Often you will find that you are.
- Released Value – This is the most economical as there is no additional cost. However, this option provides only minimal protection and is not sufficient coverage for most shipments. It will pay you $.60 per pound per article if lost or damaged while moving. That means a piece of furniture weighing 75 lbs would receive a settlement of $45.00. You will be asked to initial the bill of lading if you select this coverage. The only place this is applicable is if your insurance policy covers your goods for their entire value and this would be considered supplemental coverage for your move.
- Full Maximum Value Protection – This is your most comprehensive coverage. You may hear it referred to as "full replacement value" as well as "full value protection” by other van lines. If you elect to purchase full value protection, articles that are lost, damaged, or destroyed will be either repaired or replaced with like items, or a cash settlement will be made for the current market replacement value, regardless of the age of the lost or damaged item. Depreciation of the lost or damaged item is not a factor in determining replacement value when the shipment is moved under full value protection.
The cost of full value protection may be subject to various deductible levels of liability that may reduce your cost. Ask your mover for the details of their specific plan.