Austin Van & Storage takes specific steps to ensure your personal possessions are handled with care. However, as with any situation, accidents can occur leading to loss or damage in your belongings. This is why we’ve taken time to carefully explain your options for protection.
Before you sign the bill of loading you must declare the value of your shipment. The contract that you will sign will provide 2 options for placing a value on that property. The value of your choice will determine the limit of maximum liability for loss or damage to your goods.
These optional levels of liability are not insurance agreements governed by state insurance laws. Instead, they are authorized under the Released Rates Orders of the Surface Transportation Board of the U.S. Department of Transportation.
Carrier’s liability, which is included at no additional charge, provides minimal protection. The mover assumes liability for no more than 60 cents per pound per article for loss or damage. This means that claims are settled based on the weight of the individual article(s) multiplied by 60 cents.
For example, if a 10-pound stereo component valued at $1000.00 were lost or destroyed, your mover would be liable for no more than $6.00. This option is referred to as Released Value of 60 cents per pound per article.
Full (Replacement) Value Protection
Full (Replacement) Value Protection is the most comprehensive plan available for protection of your goods. When you select this option, articles that are lost, damaged or destroyed will, at the mover’s option, be either repaired, replaced with articles of like kind and quality, or a cash settlement will be made for the repairs or for replacement of the articles at their current market value, regardless of the age of the lost or damaged articles.
To exercise this option you must either declare a value based on the weight of your shipment not less than $6.00 per pound, ($6,000 minimum) or you can declare a higher lump sum amount. This option is available with and without deductible amounts.
High Value Items
High Value Items are those that are worth more than $100 per pound. We need to know about these items so that they are protected accordingly. You will be provided with a High Value Inventory, or “Items of Extraordinary Value” form, which you must complete whether or not you are declaring such items. If you have no high-value items, simply write “none” on the form.
Remember, the level of liability is not an insurance agreement. If you would like to have the kind of protection that insurance coverage provides, you should see your insurance company representative.
We hope this has answered some of you questions or concerns pertaining to value protection of your possessions while in our care. Please take time to speak with your Austin Van & Storage representative to determine the best plan available to suit your individual needs.