Moving Insurance - Are these Valuation Options the same as Insurance?

These optional levels of liability are not insurance agreements that are governed by State insurance laws, but instead are authorized under Released Rates Orders of the Surface Transportation Board of the U.S. Department of Transportation. Most States regulate the sale of insurance and as a result most movers do not sell insurance directly to their customers as they are not licensed and approved to do so by the US State Insurance Departments regulating the US States they operate in.

By definition, insurance is a contract binding one party (the insurance company) to indemnify another (the individual purchasing the insurance policy) against specified loss. So, rather than the party that may have actually caused the loss settling your claim, you have an independent insurance company, who specialize in this type of insurance, indemnifying you against loss and or damage.

Under a Movers Valuation program, liability for any claim is limited to loss or damage that occurs while the goods are in the care of the carrier. Loss or damage caused by specific perils (windstorm, floods, strikes, etc.) may be excluded Movers Valuation Programs.