What is full value protection for moving?
Quick Answer
Full value protection (FVP) makes the mover liable for the current replacement value of damaged or lost items. The mover can repair, replace, or pay cash value. It typically costs $300 to $800 for a $50,000 declared value with a $250 to $500 deductible.
Full value protection is the most comprehensive liability coverage offered directly by movers. It is significantly better than released value but has important details to understand.
How it works: you declare a total value for your shipment (minimum is usually $5,000 or $6 per pound x shipment weight, whichever is greater). If an item is lost, destroyed, or damaged, the mover must: repair it to the same condition, replace it with an item of like kind and quality, or provide a cash settlement at current replacement value.
Cost: typically 1-1.5% of the declared value. For a $50,000 declared value, expect to pay $500-$750. Deductibles of $250-$500 can lower the premium.
What is covered: loss, damage, or destruction during the move. This includes loading, transport, and unloading.
What is not covered: items of extraordinary value not listed on the high-value inventory form (items over $100 per pound), pre-existing damage, and items packed by the owner (movers often limit liability for items they did not pack).
Important detail on owner-packed boxes: if you pack your own boxes and something breaks, the mover may deny the claim because they cannot verify the item was packed properly. If you want full coverage, either pay for professional packing or at least have the movers pack fragile and high-value items.
Declared value matters: if you declare $20,000 but your belongings are actually worth $50,000, you may receive only a proportional payout (some movers enforce this). Declare a value that reflects the true replacement cost of your belongings.