Valuation, in the moving industry, is the predetermined limit of liability imposed on the mover for items while in the mover's custody. The extent of the liabililty is established by the wording on the Bill of Lading.
Valuation is offered at two levels and both options are based on weight. "Basic Carrier's Valuation" is provided at no additional cost and provides minimal protection. "Full Value Protection" is valuation available for a premium.
Basic Carrier's Valuation
With this level of protection, the mover assumes liability for no more than 60 cents per pound per article for loss or damage.
Full Value Protection
This level of protection is provided for an additional premium. The amount of the premium is established by the weight of the shipment and by the amount of the deductible. A minimum released value is determined by the weight of the shipment or a higher amount may be selected by the shipper. Under this option, articles that are lost, damaged or destroyed will, at the mover's option, be either repaired, replaced with articles of like kind and quality, or a cash settlement will be made. Condition of items transported is established by inventory documentation.