Today, we’ll go into more detail and answer a common question regarding the weight of your shipment and full-value protection.
Common Customer Question
If valuation is based on the weight of my belongings, and my actual weight turns out to be less than my estimated weight, does that change my valuation coverage and pricing?
With non-binding estimates, once the actual weight is known, the valuation coverage is updated to reflect the change. For example, if a customer has coverage based on $6 per pound for an estimated 10,000 pound move, then the customer has an estimated total valuation of $60,000. If the actual weight is 7,000 pounds, the customer would have a valuation of $42,000. The price structure would change to reflect the weight change.
If you receive a binding estimate, you will have the same valuation protection regardless of weight. The second exception is if you declare a valuation amount yourself. For example, if a customer has an estimated 10,000 pounds of goods but knows the value of their belongings is more than $60,000, they have the option to declare a higher value of their belongings. Regardless of weight, the customer will receive the protection level they have designated. Any changes to the coverage would happen before the belongings are loaded onto the truck.
Remember, you have until the movers arrive to decide if you want to accept or decline valuation coverage. We understand that valuation can be challenging to understand and we welcome your questions. If you have a general moving question, or a valuation question, please leave it in the comments below and we’ll answer it!