Valuation and Insurance Options
Within the moving industry in Arkansas (by State law) movers are required to provide their customers with four options for moving coverage in case of damages to household goods.
- 1. .60 cents per pound per article coverage from the mover – minimally required free coverage.
- 2. Extra valuation coverage from the mover for the entire depreciated value of the shipment.
- 3. $6.00 per pound estimated value for computing extra valuation coverage from the mover.
- 4. Moving Insurance from a licensed insurance company.
People often confuse the concept of valuation for their household goods with thinking that it is an insurance policy. Yes, Razorback Moving is fully licensed and insured, but valuation is not insurance!
Valuation is an estimate of value, as determined by the customer, of how much your goods are worth. It provides that, in the event of lost or damaged goods, the way in which those goods are recovered and how you are compensated for them.
**It is extremely important that you stipulate these terms on your moving contract with your movers before your move begins!**See chart below: