Understanding Valuation Protection

We realize not everyone reads the fine print, but Eager Beaver Moving strives for transparency, and we want to ensure our clients are fully informed about all aspects of the moving process, which includes understanding Valuation Protection. This is important because we want you to be aware of the Valuation Protection options available and what is and isn’t covered so that you can choose the best option for your circumstance.  It is important to read the  Terms and Conditions of Cartage, which outlines what is not covered even with the highest level of Valuation Protection coverage. 

What is Valuation Protection?

Valuation Protection is not the same thing as insurance.  Valuation Protection is a type of (limited) liability coverage assumed by a moving company, which means, if your goods are lost or damaged during the move, the moving company agrees to pay a specified amount and will only pay on a claim directly caused by the movers. This includes such loss or damage occurring during transportation, packing, unpacking, handling or while in storage. 

In Canada, this limited liability coverage is legislated through the Transportation Act and stipulates that the household furniture coverage limit is $0.60 per pound per article. An example of a valuation protection maximum calculation would be if the movers damaged a 100 lb TV, the payout is 100 x .60 = $60.00.

Certain items are not covered for damages with any level of valuation protection coverage.  Please read the Disclosure of Terms and Conditions of Cartage for clarification.  

Valuation Protection Coverage Options

Eager Beaver offers three levels of coverage:

Option One: Released Rate Liability (Free)

Option Two: Deluxe Value Protection ($5.00 per pound) 

Option Three: Premium Value Protection ($10.00 per pound)

 

Average One Bedroom House

 

Examples of different valuation coverage options for an average one-bedroom house 

One Bedroom House Contents = 1000 cubic volume/7000 pounds

Valuation Protection Coverage Option 


Coverage Amount (Total Loss Value Goods)


Price for Coverage


Option One:  Released Rate Liability 

($.60 per pound valuation)

$4200.00 FREE

Incl. in all moves

Option Two: Deluxe Value Protection

($5.00 per pound valuation)

$35,000.00 $175.00

additional cost

Option Three: Premium Value Protection 

($10.00 per pound valuation)

$70,000.00 $560.00

additional cost

 

Contact Eager Beaver Moving Inc. 780-434-1100 to upgrade to Option Two or Three prior to your move date. 

 

Option One: Released Rate Liability

This is the basic coverage included at no extra charge, as set by the Transportation Act, and is limited to $0.60 per pound per article. Single items weighing 1000 lbs or more are limited to a maximum settlement amount of $500 per item.

Released Rate Liability is a good option when you have an alternate source of insurance, or you wish to self insure against loss or damages.  It is always recommended to contact your home insurance provider to determine coverage for moving under your current insurance policy.

Option Two: Deluxe Value Protection 

This option provides enhanced protection for your belongings based on the valuation of the estimated weight of belongings at $5.00 per pound per article ($250 deductible). You may increase the value but not decrease the minimum valuation that is determined by the estimated weight of your shipment. 

Damage to a single item is limited to $2500 CDN and must be identified to the movers prior to handling and itemized on the bill of lading under special instructions.  

Items of Extraordinary Value

  • Items valued much higher than $5.00 per pound per article are considered “extraordinary value” and must be declared and indicated on the bill of lading under special instructions.  Items of extraordinary value must be professionally packed and/or crated by the mover or his agent before moving.

Option Three: Premium Value Protection 

This option provides enhanced protection for your belongings based on the valuation of the estimated weight of belongings at $10.00 per pound per article ($250 deductible). You may increase the value but not decrease the minimum valuation that is determined by the estimated weight of your shipment. 

Damage to a single item is limited to $5000 CDN  and must be identified to the movers prior to handling and itemized on the bill of lading under special instructions.

Items of Extraordinary Value

  • Items valued much higher than $10.00 per pound per article are considered “extraordinary value” and must be declared and indicated on the bill of lading under special instructions.  Extraordinary value items must be professionally packed and/or crated by the mover or his agent before moving.

Disclosure of Terms and Conditions of Cartage

Eager Beaver Moving Inc. will not be held liable under any circumstances and regardless of released or extended protection valuation options chosen for the following:

  • Contents of customer-packed cartons, bags, dressers, suitcases, chests, etc. 
  • Items of extraordinary value, such as items having a replacement cost of $5000 or more, will be limited to the maximum valuation as per the coverage option chosen on the Moving Contract, and must be identified to the movers prior to handling and itemized on the bill of lading under special instructions.  
  • Fragile items that are not professionally packed or crated by the carrier or his agent, including but not limited to mirrors, marble, glass/crystal, ceramics, lamps, shades, artwork, statues unless agreed to in writing under special instructions.
  • Physical damage to televisions or any other electronics.
  • Damage to the mechanical, electronic, or other operations of televisions, radios, stereos, clocks, appliances, musical instruments, any other electronic equipment irrespective of who packed or unpacked such articles.
  • Damage to any kind of pressboard/particleboard/waterboard furniture or to veneer/lacquer finished of furniture. Any damage to customers’ contents caused by changes in temperature, humidity or weather conditions.
  • Damage to driveways or phone/internet/hydro lines when asked to drive past the curb line. 
  • Perishable foods, plants or loss or injury of pets.
  • Should the entire shipment be damaged, the value declared on the Bill of Lading shall be the total amount settled for a claim less the amount of the relocation and applicable deductible.

Please refer to the official Terms and Conditions included in the Moving Contract.

Visit our FAQ and Tips pages for expert advice to be fully prepared for your move!

https://eagerbeavermoving.com/faqs

https://eagerbeavermoving.com/blog

Properly packing and protecting your delicate belongings

https://eagerbeavermoving.com/how-to-pack-delicate-items-for-a-move