Declared Value
Definition
The total value you assign to your shipment for liability purposes. Under full value protection, the mover is liable up to this amount. Higher declared values result in higher protection premiums.
Declared value is the total dollar amount you state your household goods are worth. This figure sets the ceiling for the mover's liability under full value protection.
Most movers require a minimum declared value, typically $6 per pound multiplied by the total shipment weight, or a flat minimum (often $5,000 to $10,000). You can declare a higher value if your belongings are worth more.
The declared value directly affects the cost of full value protection. Typical pricing is 1-1.5% of the declared value. Declaring $50,000 costs approximately $500-$750 in valuation charges.
Important: if you under-declare the value of your shipment and file a claim, some movers may limit the payout proportionally. If you declared $20,000 but your belongings are actually worth $50,000, you might receive only 40% of a claim's full value. Declare accurately.