Declared Value Protection is based on the depreciated value of an item, regardless of its current replacement cost. The entire shipment is covered at a value not to exceed the dollar amount the consumer declares.

With this option the mover assumes liability for the entire shipment at an amount equal to $1.25 times the weight of your shipment. For example, if your shipment weights 8,000 pounds, the mover will be liable for loss or damage up to $10,000. You automatically default to this plan if you have not chosen another option, and the mover is entitled to charge you $7 for each $1,000 of liability assumed. (i.e., a $70 charge will be added to your bill for additional liability if the declared value of the shipment is $10,000.)

Under this arrangement, if a 10-pound item valued at $1,000 is damaged, the mover is liable for up to $1,000, based on the depreciated value of the item. Your valuables are somewhat protected, but you pay more for it. Another consideration is the frequently substantial gap between depreciated and replacement value, particularly for electronics.

To obtain this coverage, please consult your mover for additional charges and rules.

More in this subject:

Insurance & Liability

Basic Carrier Liability-Released Value

Full (Replacement) Value Protection

Homeowners Insurance

Extraordinary Value Items