The level of valuation protection you receive depends on your chosen option, influencing claim adjustments and the carrier's maximum liability. Valuation is distinct from coverage and is subject to federal laws, carrier tariffs, and regulations, with potential limitations. To ascertain coverage, check with your homeowners insurance.
Two primary valuation protection options exist:
1. **Released Liability Protection:**
- Provided at no cost but offers minimal coverage.
- Carrier pays $0.60 per pound per article for loss or damage.
- Example: A 75 lbs furniture piece yields a $45 settlement.
- Initialing the bill of lading signifies your choice.
2. **Replacement Value Protection (RVP):**
- Comprehensive coverage; damaged or lost items repaired or replaced at full value.
- No depreciation factor in determining replacement value.
- Offers enhanced peace of mind for full protection.
Carefully evaluate your valuation protection options, choosing the one aligning best with your needs and the value of your belongings.