When moving your employees, it is important to help them understand the valuation coverage protection that will be included for their household goods move. One benefit of a partnership with your moving provider is “full replacement valuation coverage” is often included in a partnership service agreement for moves within the USA.
According to the Claims Prevention and Procedute Council, a claim occurs about 26.2% of all relocations and settled for approximately $1,358.23. Most household moves go very well. However, when there is damage during a household goods move, it is important for the moving provider to respond quickly to help the employee get settled as soon as possible so the employee can focus on the new job transition.
Therefore, the next time you need to explain the definition of the valuation coverage, refer to the 5 C’s for the best definition… “Valuation is Coverage for household goods while they are in Care, Custody, and Control of the Carrier (Moving Provider).”
International household goods moves require the employee to complete a separate valued inventory to determine the replacement value of the shipment
Other coverages that can be added to the full replacement valuation coverage include pairs and sets, and mechanical malfunction. Be sure and discuss recommended coverage options with your moving provider for your next employee relocation. This is another great way to elevate the experience for your employees and give them peace of mind when moving their most personal possessions to the new location.
This has been a “Relocation Minute” update on Valuation Coverage with Bruce Waller, For more information, call 972-389-5673, or email firstname.lastname@example.org or check out our my social media facebook and twitter page.