Company Logo

Blog

Jul

17

What is a Valuation for a Moving Company?


What You Need to Know About Valuation

When it comes time to move, you want to make sure you choose movers with a stellar reputation where you know your items will be in great hands. However, items can slip and become damaged even during the most careful and considerate moves.

Luckily, this is where valuation comes in. It’s an extremely important aspect to consider when moving—here’s why.

What is Valuation?

Whenever you go through an important process or make a big purchase, it’s common to consider insurance to protect them at all costs. The same concept also applies to moving and this coverage type is called valuation.

How this process works is the full coverage for your items are determined by assessing your items and their total weight. Based on that weight, you can choose basic coverage that will cover your items for $1.25 per pound, or an extended coverage that will cover them for $2.25 a pound.

What Kind of Coverage is Available?

Based on that weight, you can choose basic coverage that will cover your items for $1.25 per pound, or an extended coverage that will cover them for $2.25 a pound. For example, if you have a 100-pound dresser that becomes damaged during the move, it can be covered for up to $125 with basic coverage or $225 with the next level of coverage.

Additionally, there is also what is known as total replacement valuation as well, meaning if an item is damaged, no matter the cost or size, you will be covered for the total cost to repair it.

Good to Know

A little-known fact of valuation is, that your homeowner’s insurance may actually cover either the items or the cost of valuation coverage altogether, so it’s best to reach out to your insurance company to see what your coverage offers.

Determining which valuation coverage you would like for your move is a big decision with a lot of factors to consider. At On The Move, we understand this and will go over all available valuation options with you on several points during the moving process, up until moving day, to help you make the right decision.

If you’re moving and have questions about valuation, then don’t hesitate to reach out to us today and let our expert moving professionals give you all the information you need.