OPTION 1(FVP): Replacement: Under this option, the mover is liable for the replacement value of lost or damaged goods(as long as it doesn’t exceed the total declared value of the shipment). If you elect to purchase full value protection (FVP), and your mover loses,damages, or destroys your articles, your mover must repair,replace with like items, or settle in cash at the current market replacement value, regardless of the age of the lost or damaged item. The minimum declared value of a shipment under this option is $10,000 or $6.00 times the actual total weight (in pounds) of the shipment, whichever is greater. The approximate cost for FVP is $6.00 for each $1,000 of declared value FVP is offered with a $500, $1000 deductible. The amount of the deductible will affect the cost of your FVP coverage. Unless you specifically agree to other arrangements, the mover must assume liability for the entire shipment based upon this option.
OPTION 2: As A licensed carrier with the U.S.D.O.T. we are required to provide limited liability coverage at no charge to the customer. Under this option, the maximum liability is limited to 60 cents per pound per article, for all indicated as damaged or missing at time of delivery on the inventory logs. Failure to indicate damage at time of delivery will waive carrier’s liability.
Under both of these liability options, movers are permitted to limit their liability for loss or damage to articles of extraordinary value, unless you specifically list these articles on the shipping documents. An Article of extraordinary value is any item whose value exceeds $100 per pound ($220 per kilogram).