Protect your belongings
Placing value on your possessions
When the moving crew arrives on move day, they will ask you to place a value on your possessions. Olympia’s liability for loss or damage varies depending on how you release the shipment. Your goods are not automatically fully covered for loss or damage during the move. You must select the type of protection you desire and indicate your choice, in writing, on the Bill of Lading. The Bill of Lading is the moving contract between Olympia Moving & Storage and you. The purpose of this information is to help you clearly understand the two choices available to you. A selection must be made prior to the start of any packing or moving services.
Option 1: Replacement Cost Valuation (Recommended). This option covers repairs, replacement, or full reimbursement with no depreciation, minus the plan’s deductible. The mover will pay for the full cost of repairs if damage occurs while in our care and custody, up to the dollar amount of valuation selected. If the item cannot be repaired, we will replace it or replace it with a like item if the exact item is no longer available. If the item cannot be repaired or replaced we will pay you the cash value based on the current replacement cost (pending proof of value and application of the deductible).
Option 2: 60 cents per pound per article. This is the minimum coverage required by the government and is provided free of charge. If your goods are damaged or lost, the mover’s maximum liability is 60 cents per pound per article. If your goods are damaged or lost, you will be entitled to recover the depreciated value of the item damaged or lost, or 60 cents multiplied by the weight of the damaged or lost article (whichever is less).
Example: A 10-pound chair is damaged or lost. You would be entitled to: 10 (lbs.) x 0.60 (cents per lb.) = $6.00. You would be allowed a maximum of $6.00 for that particular chair.
When storage is provided under the Limited Liability plan (option 2), there is no valuation charge and your household goods will be covered at 60 cents per pound per article. When Full Replacement Value Protection (option 1) is selected for your relocation, the same coverage will automatically be applied while your goods remain in storage. The cost for this coverage option is 10% of the selected transit valuation amount for each month that your goods remain in storage. During the storage period, Olympia, as the carrier (not the warehouseman), will be liable for your goods to the same extent as during the actual transportation. Click here for more information & pricing (.pdf).
Note: Extraordinary Value
Under the Full Replacement Value Protection option, you will also need to prepare and retain a copy of the “Declaration Items of Extraordinary Value” for any boxes containing items of value in excess of $5,000 or a single item or matching sets of items with a value of $5,000 or more that are included in your shipment and give a copy of this declaration to the mover’s representative.
The mover’s liability for loss of or damage to any article valued in excess of $5,000 will be limited to 60 cents per pound for each pound of such lost or damaged article, unless you specifically identify such articles on the extraordinary value declaration. It is your responsibility to study these provisions and to make the necessary declaration.