There are two valuation protection options available for shipping household effects.
Released Rate Liability
- With this option, the Carrier’s maximum liability is $0.60 per pound, per article in the event of loss or damages.
- The value of the article has no effect.
- If the article is packed in a carton, the maximum settlement is based on the weight of the appropriate size carton x $0.60/lb.
- All weights are determined using a standardized weight chart approved by the Federal Government, for example: If a chair with an actual present value of $250.00 and a weight of 20 lbs. is damaged and/or lost, the maximum settlement will be: $12.00 (20 lbs. x $0.60 = $12.00).
Replacement Value Protection
- With this option, the Carrier’s maximum liability is the lump-sum value declared on the shipment.
- This maximum would only be paid in the case of a total loss.
- The Carrier agrees, if there is a loss or damage sustained while in its custody, to pay the full cost of repair, or if repair is not possible, replacement without deduction for depreciation.
- Any items not purchased or currently purchasable in the commercial market of North America will be settled at their appraised value.
- If a cash settlement is preferred, the carrier is limited to the cost of repair (if repairable) or the depreciated value of the item.
- Each article is assessed individually.
- The carrier reserves the right to salvage any item that is replaced or cash settled in full, for example: If a chair with an original purchase value of $250.00 is found to be irreparably damaged or lost, it will be replaced at today’s purchase value.
- Replacement Value Protection Exclusions for residential goods.