movinguoMoving to a new place is undertaken for many reasons, like new job, new relationship or even need of a new atmosphere. Whatever may be the reason, the journey towards the new city is exciting. However, when it comes to move your goods, it is a bit stressful. This is because, while moving there are chances that some of your valuables may be damaged or even lost. So, you want to hand over the responsibility to a professional moving company. But still, there are chances of loss or damage of your belongings and in such a condition you should know how you can be protected.


There are three types of protection, you may acquire.

Full Value Protection

This is the best protection because you become stress-free with it, as if any of your belongings is lost or damaged while being in the moving company’s custody, you get its full compensation in three forms:

  • If the item is damaged, you get its repair value.
  • If the item is lost or damaged, you get an exact same item as replacement
  • If the item is lost or damaged, you get the cash value for its repair or replacement

Full value protection is automatically considered if you don’t choose the other options, described below. Also, the mover can avail a permission to escape from giving compensation for extraordinarily valuable items, unless you specifically enlist the items in the list of items needing coverage. Such items are defined to be of more than of $100 per pound. You will have to take a note of this and do the needful before you move.

You should also ask your mover for the Full Value Protection plans, because their costs vary. And because of the varying deductible liability levels, the cost also may go down.

Released Value

This is the most economical plan of coverage, because you don’t have to pay any extra amount for it. However, the compensation you get is very less. The rate of compensation is around 60 cents per pound per item, i.e. if your 10-pound item worth $1,000 is lost or damaged, you will get only $6 as its compensation. Thus, this option gives you compensation depending on the weight of the item and not its value. You have to specifically choose this option by signing an agreement. If you do not choose it, you will automatically agree to Full Value Protection, for which you will be charged as per the mover’s rate.

Third-party Insurance

Any of full value protection or released value is not an insurance policy as per the State insurance rule, but they are contractual liability tariff levels regulated by the Federal rule. You can get an insurance policy for your belongings by some movers, if you choose the released value protection. This insurance is of a third-party insurance provider and you will have to pay an extra cost for it. And it is regulated by State rule and not by Federal rule. By choosing this option, you make your mover liable to give you compensation of 60 cents per pound per article plus you get coverage from the insurance company. The mover should issue the policy or a written document of the purchase and provide you a copy.

You can also buy an insurance policy separately from an insurance company of your choice.

Knowing all these options will be useful to you to clear off your worry about the valuables and you can choose from amongst them more wisely.