Full Value Protection (FVP)
Definition
The comprehensive liability option where the mover must repair, replace, or pay the current replacement value of any lost or damaged item. Costs 1-1.5% of declared shipment value with optional deductible.
Full value protection is the highest level of liability coverage offered by movers. Under FVP, if an item is lost, destroyed, or damaged during the move, the mover has three options: repair the item to its original condition, replace it with an item of similar kind and quality, or provide a cash settlement at current replacement value.
Cost is typically 1-1.5% of the total declared value of your shipment. Choosing a deductible ($250-$500) can reduce the premium by 20-30%.
Important limitations: items worth over $100 per pound must be listed on the high-value inventory form to be covered at full value. Owner-packed boxes may have limited coverage (the mover can claim they were not packed properly). Pre-existing damage noted on the inventory is excluded.
FVP is recommended for moves with more than $10,000 in household goods. The cost is small relative to the protection. Compare the premium to the potential out-of-pocket loss under released value ($0.60/lb).