Professional Valuation Services in Chicago, IL to Insure Your Assets
Understanding your loss and damage protection when moving with in Illinois. Check out this video below courtesy of Illinois Movers and Warehousemen’s Association to understand what valuation is.
When it comes to relocation, the words valuation and insurance are used in a way that can be confusing to the average consumer. Valuation is a contractual agreement between you and your mover that will determine your reimbursement in the event of loss or damage – including unlikely catastrophic loss.
The valuation charge is the compensation to the moving company for assuming more liability for your items than what is provided in the base transportation charges.
Most moving companies will give you a minimum amount of valuation for your move at no additional cost. This valuation is typically set at $0.30 per pound, which is very low for valuable items such as large screen televisions and computers. If your shipment includes items highly valuable items, consider adding more valuation.
Compare valuation and insurance options on the basis of coverage and cost to determine which one is best for you or your business. Before you choose to purchase additional valuation coverage or moving insurance, make absolutely sure that your regular policies do not cover the transportation of your goods. Many insurance companies will cover claims for losses from fire or natural disaster when your items are being moved by a professional mover. Most often, these types of policies will not cover your damages if they’re caused by the movers.
Ask your move counselor about the details of your coverage and what are the available options.