All certificated Movers that are Members of VMWA have in their Tariff rates minimum cargo coverage of $.60 per pound per article. This level of coverage is normally called the Standard Liability.
There are available at additional costs, higher levels of coverage for the cargo. Many Movers offer Full Value coverage and Depreciated Value coverage along with associated deductibles.
It is recommended that you acquire cargo coverage for your shipment at the same level of your homeowner’s coverage. This is important since in the state of Virginia, a co-insurance clause is applicable. You must insure your shipment for at least 80% of the actual value. If you insure it at a lower amount, the settlement will be affected by the undervalued amount percentage.
A detail listing of the extraordinary valuable items being moved is a normal requirement for Insurance Carriers and Movers. Movers need to know about the unusual and most expensive items in your shipment.
Usually, the homeowner’s coverage will only apply for a catastrophic damage (total loss). It will not cover you for transit damages.
You are required to file your cargo claim for new damage or missing items within 30 days from the date of your delivery . It is recommended that you contact your Mover within seven (7) days from delivery for a claim form if you are filing a claim.