Released-Value Protection
Released-value protection is the minimum cargo coverage a federally regulated mover must provide at no cost, paying 60 cents per pound per damaged item.
Required by federal law on interstate moves, released-value protection is included automatically in every move and costs the customer nothing. The trade-off is the low payout: a 50-pound flat-screen TV destroyed in transit pays out at $30 (50 × $0.60), no matter what the TV actually cost. For most household goods, released-value protection is not enough to make the customer whole after a loss.
Customers who own valuable items — antiques, art, electronics, instruments — should purchase full-value protection in addition to the included released-value coverage.
Boston Best Rate Movers includes released-value protection on every move at no extra cost.
Related Terms
Full-Value Protection
Full-value protection is moving insurance that reimburses the customer for the full repair or replacement cost of any item the mover damages or loses, minus any deductible.
Cargo Insurance
Cargo insurance is a third-party insurance policy that protects against loss or damage to the goods being transported in a moving truck.
Valuation Coverage
Valuation coverage is the umbrella term for the mover's liability for loss or damage to a customer's belongings — it is not the same as insurance, even though it functions similarly.
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