What is released value protection for moving?
Quick Answer
Released value is the free, minimum coverage movers are required to offer. It pays $0.60 per pound per damaged item - not per pound of the total shipment. A 50-pound TV worth $1,000 would only pay out $30 under released value.
Released value protection is the most basic level of mover liability, and it is included in every interstate move at no additional cost. However, it provides very limited coverage.
How it works: the mover is liable for no more than $0.60 per pound per article. This is calculated per item, based on the weight of the individual damaged item. It has nothing to do with the total shipment weight or the item's actual value.
Examples of payouts under released value: a 50-pound flat-screen TV worth $1,000 would pay $30 (50 x $0.60). A 200-pound antique dresser worth $3,000 would pay $120. A 5-pound laptop worth $1,500 would pay $3. A 100-pound sofa worth $2,000 would pay $60.
As you can see, released value is essentially no coverage for anything of value. It exists because federal law requires movers to offer at least this minimum level of liability.
When released value might be adequate: if you are moving mostly low-value, heavy items (old furniture, boxes of books) and nothing expensive or irreplaceable. If you have renter's or homeowner's insurance that covers your belongings during a move (check your policy).
To select released value, you must sign a specific written statement acknowledging the limited coverage. The mover is required to explain your options before you sign. If you want better protection, consider full value protection or third-party insurance.