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How Much Should I Value My Items? Calculating Moving Protection and Valuations

Moving to a new place can be exciting and challenging. Oftentimes, this is the start of a brand new experience and a result of a life event or milestone. Who doesn’t like exploring new places and going on new adventures? One element that often doesn’t get the attention it deserves is the significance of having appropriate moving protection and valuation. Whether relocating locally or cross-country, understanding how to calculate moving protection and valuation is key for a smooth transition.

Calculating Protection for Accidental Damage

Despite the care taken by you or your moving company, accidents can happen. That’s when protection for accidental damage becomes valuable. This protection secures your belongings in case they’re accidentally impaired during the relocation process. To estimate the cost of protection against accidental damage, you will need to calculate the total value of your possessions and the risks of the move. 

The Method for Calculating Moving Protection and Valuation

Let’s outline the method for determining the coverage you need:

  • Assess Your Belongings: Compile a comprehensive list of items you’re moving. Attach a realistic value to each, considering depreciation for used goods and the replacement cost for newer ones.
  • Evaluate the Risks: Look at the specific risks related to your move, such as the distance, mode of transportation, and storage time. International relocations, for instance, may carry risks that domestic relocations do not.
  • Look into your Moving Company’s Protection Options: Investigate your moving company’s protection and valuation offerings and assess whether their options match the value and risks of your move. 
  • Compute the Total Cost for Protection and Valuation: Tally the costs associated with the moving company’s valuation, any extra arrangements you make, and the cost of accidental damage protection. This sum represents the total cost of protecting your belongings during the move.

Applying these methods ensures extensive protection for your move, offering financial security and tranquility. Explore how Maffucci Moving can help protect your belongings.

Protecting Your Household belongings.

What is Limited Liability Protection?

When you choose Maffucci Moving, limited liability protection is automatically included. This protection evaluates your belongings solely based on weight, offering a valuation of sixty cents per pound per item. Regardless of the item’s value, be it a television or a dining room table, compensation is provided at this fixed rate in case of a claim settlement.

It’s essential, however, to note that the liability coverage for self-packed boxes differs from that of carrier-packed boxes. Items damaged within boxes you pack yourself aren’t covered under the valuation policy. Nonetheless, if damages occur due to box damage during transit, the valuation policy may apply.

What is Full Replacement Value Protection (FRVP)?

For enhanced coverage, full replacement value protection (FRVP) is an excellent choice. Unlike insurance, this option assigns a dollar value to your items based on a declared value that you set, along with your chosen deductible level. Our FRVP policies are founded on a release value of $6 per pound. For instance, if your shipment weighs 10,000 pounds and you opt for FRVP, your shipment’s default value is $60,000. You have the flexibility to increase this value further if desired.

Before your items are loaded onto the moving van, you must select your valuation coverage and deductible levels. Your local agent salesperson will provide a quote for the chosen valuation level, which will be added to the overall cost of the shipment. Payment for the shipment is required before delivery.

In the event of damage, your belongings are either repaired or replaced at the declared value minus the chosen deductible, if applicable. If repair isn’t feasible, the item will be replaced. If you possess any high-value or fragile items, opting for full protection is highly recommended, adding an extra layer of assurance to your move.

Items of Extraordinary Value

You have the responsibility to assign a protection amount for items of extraordinary value, such as antique furniture, sterling silver, china, or other collectibles – which exceed $100 per pound in value. Based on the value you assign, we’ll calculate a protection rate accordingly. Additionally, you can choose to assign a deductible to such items if repair or replacement becomes necessary, as determined by our assessment. Should you have queries regarding the value assignment for specific items, consulting with your moving agent is advisable.

Typical household articles which may be items of extraordinary value are, but are not limited to:

  • Currency
  • Fur garments
  • Coins
  • Antiques
  • Jewelry
  • Oriental rugs or tapestries
  • Precious metals
  • Rare collectibles
  • Precious stones or gems
  • Objects of art
  • China sets
  • Computer software programs
  • Crystal
  • Manuscripts
  • Figurines
  • Other rare documents

All such items included in your shipment must be identified on the Items of Extraordinary Value Inventory Form.

Should I Document Inventory Upon Delivery?

Absolutely. Documenting inventory upon delivery is not just recommended but mandatory to ensure proper coverage for your items. By cross-referencing items with your inventory form, noting any damages, and confirming the arrival of all items before the driver’s departure, you guarantee that your valuation coverage can be applied fully to your shipment.

Understanding Protection and Valuation 

Relocating every possession you own is a significant endeavor, and safeguarding your belongings against potential damage is paramount. At Maffucci Moving, our seasoned movers prioritize the safety and security of your items. Nevertheless, considering additional moving protection is a wise decision. 

Should you have any inquiries regarding moving protection and valuation, reach out to Maffucci Moving & Storage.

By maffuccimoving January 30, 2024