Moving Insurance and Valuation in Vermont, VT

Start with the vocabulary, because it is deliberately confusing. Valuation is not insurance. It is the level of liability a moving company accepts for your belongings, defined by federal regulation for interstate moves. Actual insurance is a separate product sold by an insurance company. Both exist; they are not the same thing.

Released Value Protection

This is the default, and it is free — which should tell you something. It obligates the mover to pay 60 cents per pound, per item. If a 50-pound television is destroyed, the payout is $30. If a 200-pound antique dresser is destroyed, the payout is $120, regardless of what it was worth. You have to sign to accept it, and most people sign without reading.

Full Value Protection

Costs extra, and obligates the mover to repair the item, replace it with something comparable, or pay the current market replacement value. The cost is typically a percentage of the declared value of your shipment, and deductible options change the price. For anything of real value, this is the option to take.

Note that both schemes let a mover limit liability on items of "extraordinary value" — generally anything worth more than $100 per pound — unless you specifically declare them in writing before the move. Jewelry, art, and collections need declaring or carrying yourself.

When a moving company says it is fully insured, that generally refers to general liability — coverage if a crew damages your property, like a wall or a floor — and workers' compensation, which matters enormously to you because it means an injured mover is covered by their employer rather than by your homeowner's policy. It may also include cargo coverage on the truck.

What it does not automatically mean is that your dining table is insured for its full value. That is the valuation question above, and it is a separate decision you make in writing. Both things are worth asking about; they are just different questions.

What Your Own Policies Might Cover

• Homeowner's or renter's insurance sometimes covers belongings in transit — check the policy, and check whether it applies during a move specifically.
• Third-party moving insurance is sold separately and can cover more than either valuation option, particularly on high-value shipments.
• Credit card benefits occasionally apply if you paid for the move on the card, though this is rarer than people hope.

How to File a Claim

1. Note damage on the delivery paperwork before you sign it.
2. Photograph the item and any packaging immediately.
3. Notify the mover in writing as soon as possible.
4. For interstate moves you generally have nine months to file; do not use them all.
5. Keep every document — estimate, inventory, and bill of lading.
6. The mover generally has 30 days to acknowledge and 120 days to resolve.