VALUATION OPTIONS - Local and Statewide Moves
When our crew arrives to perform a local or statewide move, you will be required to choose your valuation option. Although our claims percentage is much lower than the industry average, claims can unfortunately happen, so you should plan ahead as to how you would want your claim handled if one should arise. The State of Oregon sets the following valuation limits and enforces them strictly. It is important to understand that we are regulated by the Oregon Department of Transportation (ODOT) and bound by law to handle your claim based on the option that you choose below, no exceptions. Please refer to the General Information for Moving Household Goods in Oregon form.
Released Value Protection
1) Released value protection (60 cents per lb.).
This valuation option is no additional cost. If you choose this option and you file a claim, your claim will be settled at 60 cents per pound. For example, if you were to make a claim on a dresser, and the dresser weighed 150 lbs, the maximum compensation for your dresser would be (150 lbs * $.60lb.) = $90.00. In addition, the value of your entire shipment is 60 cents per lb. This means that if your shipment weighs 8000 lbs, the value of your goods in transit is only $4,800. This amount is the maximum that you could claim in total. Due to the fact that 60 cents per lb. rarely covers the amount of a customer's total shipment in transit, we recommend that you check with your homeowners insurance to ensure coverage with this option.
This valuation option is no additional cost. If you choose this option and you file a claim, your claim will be settled at 60 cents per pound. For example, if you were to make a claim on a dresser, and the dresser weighed 150 lbs, the maximum compensation for your dresser would be (150 lbs * $.60lb.) = $90.00. In addition, the value of your entire shipment is 60 cents per lb. This means that if your shipment weighs 8000 lbs, the value of your goods in transit is only $4,800. This amount is the maximum that you could claim in total. Due to the fact that 60 cents per lb. rarely covers the amount of a customer's total shipment in transit, we recommend that you check with your homeowners insurance to ensure coverage with this option.
Full Replacement Value Protection
2) Full Replacement Value Protection ($3.50 per lb).
This valuation option is additional and costs $.85 per $100 unit of coverage. In regards to the total value of your shipment, you will be required to state a value of your shipment which cannot be less than the weight of your shipment multiplied times $3.50 /lb.) To figure out the weight, we can weigh your shipment or estimate the weight of your shipment based on how much space is used in the moving truck. For example, if your actual or estimated weight is 8,000 lbs. (reflective of an average 1500 -1800 square foot home fully furnished) you multiply 8000 (lbs) * $3.50 (per/lb.) to get $28,000 worth of handling and transit coverage. You cannot state a lower value, however, if this is not enough coverage, you can state a higher value. In regards to the example above, at $.85 per $100 of coverage, full replacement would cost ($28,000 / $100 = $280 * $.85) = $238.00. In regards to individual items, full replacement value means that if you file a claim, the weight of an individual item no longer matters. For example, if you file a claim on a television and the television costs you $300 five years ago, but the comparable replacement costs $400 today, your claim is honored at full replacement value, or $400.
This valuation option is additional and costs $.85 per $100 unit of coverage. In regards to the total value of your shipment, you will be required to state a value of your shipment which cannot be less than the weight of your shipment multiplied times $3.50 /lb.) To figure out the weight, we can weigh your shipment or estimate the weight of your shipment based on how much space is used in the moving truck. For example, if your actual or estimated weight is 8,000 lbs. (reflective of an average 1500 -1800 square foot home fully furnished) you multiply 8000 (lbs) * $3.50 (per/lb.) to get $28,000 worth of handling and transit coverage. You cannot state a lower value, however, if this is not enough coverage, you can state a higher value. In regards to the example above, at $.85 per $100 of coverage, full replacement would cost ($28,000 / $100 = $280 * $.85) = $238.00. In regards to individual items, full replacement value means that if you file a claim, the weight of an individual item no longer matters. For example, if you file a claim on a television and the television costs you $300 five years ago, but the comparable replacement costs $400 today, your claim is honored at full replacement value, or $400.
