What People Moving from Tulsa Ought to Know about the Valuation of Their Belongings

The valuation of items being trucked in any relocation of a person, family, or business from Tulsa to another locale – or from anywhere to anywhere – is severely regulated by the federal government.

man putting books in a moving boxTo be clear, your moving company is, in most circumstances, legally liable for any loss or destruction of your household goods at any time during the haul. It’s also liable for loss and damage while its crews are handling your possessions in fulfillment of any other Tulsa moving services you purchased. Such services should be noted on the bill of lading: packing, unpacking, disassembly and reassembly, for instance.

But there are limits to your moving company’s liability. Those limits are determined by the federal Surface Transportation Board’s Released Rates Order. You can get hold of a current copy of it here.

The important thing is, know what avenues you have for the security of your possessions. And know your Tulsa moving company. Just because a mover asserts that his company is “fully insured and bonded” is no insurance that your goods themselves are automatically covered. Also, your local mover being affiliated with a major national van line is no guarantee that you’re protected either. In both cases, you may be forced to purchase extra third-party liability insurance. Your mover might offer to sell it to you, but he has no legal obligation to do that. Ask questions when you first meet in order to ferret out  just what your course of action should be.

Keep this in mind when you’re checking out your choices here in Tulsa: Two different degrees of moving-company liability are relevant to interstate moves – Full Replacement-Value Protection and Waiver of Full Replacement-Value Protection, or Released Value.

 Oil Capitol Relocation Tulsa Moving Terms Infographic

 

Obviously, Full Replacement-Value Protection gives you the fullest coverage. But choosing it means your move will cost you more. With this degree of liability (subject to allowable exceptions in your mover’s tariff), your mover will either take care of whatever repairs are required to reinstate a damaged object to the condition it was in when you first turned it over to him and his crew … or he’ll replace it more. Whatever valuation you and your mover mutually consent to, it must be included in your mover’s tariff. Note also that movers are permitted to limit their Full Replacement-Value liability for loss or damage of pieces valued exceptionally high. Those would be possessions valued at $100 or more per pound, such as jewelry, antiques, silverware, china, oriental rugs, and the like. Ask for further information on all this from your mover. In the final analysis, though, it falls on your shoulders to declare accurately.

If you opt for a Waiver of Full Replacement-Value Protection, or Released Value, you will, of course, be getting minimal liability protection. But you won’t pay anything for it. What this degree of protection does is limit your mover’s liability to no more than 60 cents per pound, per article. Certainly, that won’t give you enough of a reimbursement to replace any item valued at more than 60 cents per pound! Items like stereo equipment, gym equipment, computer hardware, and computer software are thus considerably more at risk. That’s something to consider before you [[commit in writing to|contract with]150 any mover!

You could, though, have one more option: your current homeowner’s policy. Review it and talk with your insurance agent to determine if there’s anything in it regarding coverage of belongings during a relocation. If there is, you might find the minimum level of mover liability coverage – Released Value – adequate.

Just make sure you’re clear about what degree of protection your moving company is including in his quote: Full Protection or Released Value. That way, you should be totally prepared for whatever your move throws at you!

 

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