When preparing for a relocation in Chicago or across Illinois, choosing the right moving company is only part of the planning process. Protecting your household goods during transit requires an understanding of moving valuation. While Aaron Bros Moving System, Inc. executes every project with precision and care, understanding your liability coverage options ensures you make informed financial decisions before the trucks are loaded.

Under regulations enforced by the Illinois Commerce Commission (ICC), moving valuation is not traditional insurance; it is a legal declaration of the shipment’s value that determines the carrier’s maximum liability if an item is lost or damaged. Every mover in Illinois must offer two primary tiers of protection: Released Value Protection and Full Value Protection.

Released Value Protection: The State Minimum

Released Value Protection is the baseline coverage required by Illinois law. This option is included with your move at no additional charge, but it offers minimal financial recovery for high-value items.

  • How it works: Liability is capped at exactly $0.60 per pound per article.

  • The drawback: Compensation is based strictly on physical weight, ignoring the item’s actual market value.

  • Example scenario: If a 40-pound flat-screen television worth $1,200 is damaged, the maximum payout under Released Value Protection is just $24.00 (40 lbs × $0.60).

Full Value Protection: Comprehensive Coverage

For households with electronics, antiques, and high-quality furniture, Full Value Protection (FVP) is the recommended standard. While this option requires an upfront premium, it shifts the financial responsibility for lost or damaged goods directly to the carrier based on market value.

  • How it works: You declare a total value for your entire shipment. If an item is lost or damaged, the carrier must do one of three things: repair the item, replace it with an item of comparable quality, or provide a cash settlement for the current market replacement value.

  • Deductibles: FVP policies can be customized with different deductible levels to adjust the upfront cost.

  • Example scenario: Using the same 40-pound, $1,200 television, an FVP claim (assuming a zero deductible) results in a full repair, an exact replacement, or a $1,200 payout.

Strategic Insight: High-density, low-weight items; such as laptops, jewelry, and small electronics, carry the highest risk profile under Released Value Protection. Always assess the value-to-weight ratio of your most expensive possessions when choosing a policy.

Side-by-Side Comparison

Feature Released Value Protection Full Value Protection
Upfront Cost Free (included automatically) Premium based on total declared value
Liability Formula $0.60 per pound per item Current market value, repair, or replacement
Best Suited For Low-value shipments, tight budgets, or secondary insurance holders Standard homes, high-value furniture, electronics
Claim Payout Heavily depreciated Full replacement or repair (minus deductible)

 

Protecting Your Assets with Aaron Bros Moving System, Inc.

As a dedicated Chicago moving company, Aaron Bros Moving System, Inc. believes in total transparency. Prior to loading day, our team will walk you through the valuation paperwork to ensure your selection is properly documented on the bill of lading.

To maximize the effectiveness of your chosen valuation:

  1. Take an inventory: Photograph valuable items and note their condition before packing begins.

  2. Review homeowners policies: Check if your existing renters or homeowners insurance provides transit coverage to supplement the carrier’s valuation.

  3. Ask questions: If you are unsure how specific items like particleboard furniture or owner-packed boxes are treated under FVP, address these exclusions directly with your relocation coordinator.

Understanding valuation allows you to prioritize the safety of your assets while controlling the financial variables of your relocation.