If you’re planning a move, you’ve probably encountered the terms “valuation coverage” and “full value protection” in your research. While they might sound similar, understanding the difference could save you thousands of dollars if something goes wrong during your move. Let’s break down these two protection options in plain English.
What is Basic Valuation Coverage?
Basic valuation coverage (also called “released value protection”) is the minimum coverage that movers must offer by law. Here’s the catch: it only covers your items at 60 cents per pound. That means if your 10-pound laptop gets damaged, you’d only receive $6 in compensation—regardless of its actual value. Yes, you read that right: six dollars for your thousand-dollar laptop.
Understanding Full Value Protection
Full value protection is exactly what it sounds like—comprehensive coverage for the current market value of your items. Under this protection, if something gets damaged or lost, the moving company must either:
- Repair the item to its pre-move condition
- Replace it with a similar item
- Pay you the current market value
Real-World Example
Let’s say you’re moving a 50-inch TV that weighs 30 pounds and costs $800. If it’s damaged during the move:
- With basic valuation: You’d receive $18 (30 pounds × $0.60)
- With full value protection: You’d receive up to $800 or a replacement TV
The Cost Factor
Full value protection typically costs more, but it’s often just a fraction of your total moving cost. Most professional moving companies charge based on:
- The total value of your shipment
- The deductible you choose
- The distance of your move
Making Your Decision
Consider full value protection if:
- You’re moving valuable items like electronics or antiques
- Your furniture is relatively new or expensive
- You don’t have separate insurance coverage for your belongings
- Peace of mind is important to you during the move
Basic valuation might be sufficient if:
- Most of your items are easily replaceable
- You have comprehensive homeowner’s or renter’s insurance that covers moves
- You’re moving mainly clothes, books, and other low-value items
Our Recommendation
At Choice Moving Company, we always recommend full value protection for our clients. While basic valuation coverage might save you money upfront, we’ve seen too many customers regret this choice after experiencing damage to valuable items. Remember: moving insurance isn’t just about protection—it’s about peace of mind during an already stressful time.
Taking the Next Step
Before making your decision, take inventory of your most valuable items and consider what replacing them would cost. Then, talk to your moving company about their specific coverage options and any deductibles that might apply. Don’t forget to check your existing homeowner’s or renter’s insurance policy to see if it provides any moving coverage.
