Inventory & Valuation Options: What’s Right For You?

Valuation Options: What’s Right For You?

VALUATION / INVENTORY

You have the right to receive a prepared inventory of your shipment upon request. This is usually done at the time the mover loads your shipment. The mover is required to list any damage or unusual wear to any items. The purpose is to make a record of the existence and condition of each item before it is moved.

PLEASE BE ADVISED: To keep our rates low and work time to a minimum, inventory of goods will not be taken by our company. Upon receiving our services, you have agreed to waive the right to receive inventory. It is your responsibility to make your own inventory list to ensure your items are all present at the end of your move. Be sure to examine each location or destination prior to our departure to make sure there weren’t any items left behind.

Important: Inventories are often used during the claim process; inspect your shipment carefully. Make sure all items are accounted for. If there is an obvious loss or damage, note this on the inventory at the time of delivery.

An inventory list may be provided to you upon request, billed as an hourly fee, provided before our company loads your shipment. The purpose is to make a record of the existence and condition of each item moved.

It is important before signing the Order for Service or before we begin loading. Make sure the inventory sheet lists every item in your shipment and that the entries regarding the condition of each item are correct. As a reminder, we do not provide an inventory unless you state otherwise. You have the right to note any disagreement prior to loading. When your shipment is delivered, it is your responsibility to check the items delivered against the items listed on your inventory. If new damage is discovered, make a record of it on the inventory form. Call the damage to the attention of our representative and request that a record of the damage is made on our company’s copy of the inventory.

Coverage Options for Your Shipment

Wee-Move provides two (2) options for coverage for loss or damage to your household goods while they are in Wee-Move’s care, custody, and control and for placing a value on your shipment. The value that you select sets Wee-Move’s maximum liability for loss or damage to your goods.

Before you move with Wee-Move, you must decide how much your goods are worth and how much coverage you want for your shipment. If you do not state otherwise for the level of coverage that you desire before the mover loads your belongings, you will receive the default coverage as discussed below.

Option 1 – Full Value Protection: (Non-Default)

Full Value Protection is the most comprehensive plan available for the protection of your goods. When you select this option, articles that are lost, damaged, or destroyed will, at the mover’s option, be either repaired, replaced with articles of a like-kind, and quality or a cash settlement will be made for the repairs or replacement of the articles at their current market value, regardless of the age of the lost or damaged articles. However, the mover’s obligation to settle your claim is capped at the amount included on your Bill of Lading.

Full Value Protection deductible options may also be available under which, you (the shipper) would waive mover responsibility for a pre-agreed amount of any claim in exchange for a lower charge. Ask your mover before you engage in any transactions.

Under Option 1, your mover is also permitted to limit its liability for loss or damage to articles that have extraordinary value. An article of extraordinary value is any item whose value exceeds $100 per pound. Ask your mover for a complete explanation of this limitation of liability before you move. It is your responsibility to study or ask the mover for these provisions carefully and to make the necessary declaration.

When storage-in-transit is provided (at any point during your move), an additional valuation (shipment protection) charge applies for the time your shipment (or portion thereof) is in storage under Option 1.

Option 2 – Released Rate Liability (60 Cents Per Pound Per Article) Minimum Liability Option: (DEFAULT COVERAGE BY WEE-MOVE MOVING COMPANY)

In receiving the services by Wee-Move Moving Company you have agreed to the Released Value Protection (Released Rate Liability – $.60 per pound; per item.) Limitation of Coverage is the default Option 2 as provided by Wee-Move.

The Minimum Liability Option for the released value of $0.60 per pound per article is the most economical option available. This level of protection is provided at no additional cost; however, it only provides minimal protection. Under this option, the mover assumes liability for no more than $.60 cents per pound per article for loss or damage. This means that claims are settled based on the weight of the individual article(s) multiplied by $.60 cents. For example, if a 100-pound television valued at $1,000 was lost or destroyed, your mover would be liable for no more than $60.00 (100 pounds multiplied by $.60 cents).

Obviously, you should think carefully before agreeing to such an arrangement. This valuation (shipment protection) option is considerably less than the typical value of household goods.

PLEASE BE ADVISED BEFORE YOU HIRE WEE-MOVE: Wee-Move does not offer Full Value Protection and only provides Released Value Protection which covers $.60 cents per pound, per item; in receiving our services, you waive the Full Value Protection level of liability.

In receiving our services, by default, you select Option 2. You may wish to obtain separate liability insurance from a third-party insurance company. Your mover and its agents do not offer insurance coverage. If you are interested in obtaining third-party insurance coverage, please consult with your insurance representative. If you elect to purchase separate insurance, in the event of a claim, the mover is only liable to you for an amount equal to $.60 cents per pound per article, and the balance of your claim may be recoverable (depending on your policy terms) from the insurance company up to the amount of insurance purchased.

Storage-In-Transit.

If all or a portion of your shipment is placed into storage-in-transit, the valuation amount that you have selected for your shipment will continue to apply while your shipment is in storage-in-transit. For Full Value Protection, there is an additional valuation charge for each 30-day period (or portion of such period) that your shipment remains in storage-in-transit. After a specified period of time (generally 180 days), your shipment will be converted from a shipment in storage-in-transit to a permanent storage shipment. At that time, you will need to make arrangements with the local agent for continued coverage for your shipment.

What You Must do to Declare a Value on Your Shipment.

The Order For Service and/or Bill of Lading you will execute with Wee-Move will contain the shipment protection options and permits you to confirm your shipment protection selection. You should fully read the terms of the Bill of Lading since you will be contractually agreeing to limit your mover’s liability.

If you fail to read the Bill of Lading before you move, it may impact the amount that you may be required to pay for your move.

Selecting A Shipment Protection Option

First— Be certain that you understand the material contained in this pamphlet and, if you do not, ask your mover for more information.

Second— Evaluate your needs and the available shipment protection options.

Third— Let your mover know if you wish to select the Full Value Protection in place of the default coverage, Released Rate Liability (60 Cents Per Pound Per Article) Minimum Liability Option.

An additional charge applies when you select the Full Value Protection Option, but this higher level of shipment protection is much more likely to cover the value of your entire shipment and all of the articles included in your shipment than the minimum liability.

To Select Option 1 – Full Value Protection Option

  1. If you wish to accept the default amount of valuation as described in Released Rate Liability, you do not need to do anything else.
  2. If you wish to purchase Full Value Protection or to add a deductible (where available) ask your salesperson for a new Estimate including your revised shipment protection choices.

To Select Option 2 – Released Rate Liability (60 Cents Per Pound Per Article) Minimum Liability Option – (DEFAULT SELECTION WITH WEE-MOVE MOVING COMPANY)

This is the default liability provided by Wee-Move since this option is provided at no additional charge. However, remember that the coverage provided by this option is considerably less than the average value of typical household goods, and you should understand that any recovery from your mover for loss or damage will be nominal.

To confirm your Shipment Protection Option,

Before you engage in any transactions with Wee-Move, confirm that your shipment protection option is correctly written in the Bill of Lading. If the Bill of Lading is not correct, or if you have changed your mind, contact your salesperson right away. You will not be allowed to make changes after your mover begins to load your shipment.

KEEP IN MIND: If you do not select the Full Value Protection Option, you will automatically receive the Released Rate Liability (60 Cents Per Pound Per Article) Minimum Liability Option.

Read more on our “Damage & Liability Disclosures” page.