Protect Your Valuables with Valuation Coverage
When entrusting your belongings to a moving company, having the right coverage in place gives you true peace of mind. At Leaders Moving & Storage Co., we take the stress out of moving by providing customized valuation options to safeguard your valuables.
Why Valuation Coverage Matters
Choosing the Right Level of Protection
The standard minimum liability coverage offered by most movers is $ 0.60 per pound per item. This means if your 75 lb television is damaged, the maximum the mover would pay is $45 (75 lbs x $0.60). This level of coverage is generally inadequate, as it fails to account for the true value of your belongings.
In contrast, Leaders Moving & Storage never offers this minimal $ 0.60 per pound coverage. Instead, Leaders Moving & Storage offers depreciated value coverage at no additional cost. This coverage provides compensation for your belongings based on the current market value, minus depreciation.
For added protection, we also offer full replacement value coverage, which provides compensation for the full replacement cost of your belongings.
Our most popular option, this coverage reimburses you based on the current depreciated value of your items at no additional charge. This is ideal for most household goods that can be repaired rather than replaced.
- Maximum Reimbursement: You are guaranteed a maximum reimbursement of $2.25 per pound of your shipment’s weight, or the declared value, whichever is greater.
- Protection Against Loss: Your shipment is protected against loss or damage up to the declared value.
- Peace of Mind: Knowing your shipment is insured can provide peace of mind during transit.
The highest level of protection, this coverage reimburses you for the full replacement cost of your belongings in the event of damage or loss. This is best suited for total loss scenarios, such as a fire.
- Maximum Reimbursement: You are guaranteed a maximum reimbursement of $6.00 per pound of your shipment’s weight, or the declared value, whichever is greater.
- Full Replacement Cost: Your shipment is protected against loss or damage up to the full replacement cost, providing peace of mind during transit.
- Adequate Coverage: This coverage is particularly important for high-value or fragile items that may be susceptible to total loss.
Important Coverage Details
To provide complete transparency, please note:
- Claims must be filed within 60 days for local/intra-state moves and within 9 months for
inter-state moves - Payment balance must be satisfied before claim processing begins
- Coverage applies to individual items, not entire sets
- Coverage excludes:
- Boxes packed by owner (PBO)
- Artwork (due to subjective valuation)
- Ready-to-assemble/press-wood furniture
- Mechanical conditions of electronics and appliances
How We Determine Value
- Depreciated value is calculated using the industry-standard Claims Pages Depreciation Guide
- Replacement value is determined by either: A) The current value of the item if still in production, or B) A receipt or purchase order, whichever is lesser
- This shows how our included coverage provides significantly more protection than the industry minimum.
Protecting What Matters Most
While there are some exclusions, such as valuables like jewelry and collectibles, our valuation coverage encompasses the majority of your household items. Our team of specialized claims professionals will work closely with you to ensure a seamless resolution if the unexpected occurs.
