What is a Minimum Standard Valuation?
Did you know that the standard valuation in the moving industry is 0.60 cents per article?
The Minimum Valuation or Basic Carrier Liability for the moving industry is $0.60 per pound per item for loss or damage during transit. It is offered by the moving company at no additional charge but the coverage is minimal. For example, if you have a lamp that weighs 10 pounds and is damaged or lost during the move, the moving company is obligated to pay $6 (10 pounds x 60 cents).
If you select this option, you must sign a statement on the bill of lading agreeing to it. Other insurance options including Full Value Protection are available at an additional cost.
Frecuenly ask questions about moving minimum standard valuation. Let's keep it simple
No, Valuation is diferent than insurance. Both work similar but they have different coverage.
Keep in mind that the cost of your belongings is not relevant.
If your Item weighs 100 lb and you got a standard valuation of $0.60 cents you will get $60 USD.
Weight * $ Valuation = Coverage
100 lb * $0.60 cents = $60 USD
You can raise your valuation as much as you want. Usually from $6 to 16 USD per lb.