Released value is the lower of the two liability options printed in every interstate estimate. It costs nothing extra, which is its appeal, and it pays very little against a real loss, which is the reason to read this entry before you sign.
How the 60 cents works
Under released value, the amount paid for a damaged or lost item is its weight times 60 cents, not its price. A 10-pound lamp that is destroyed would produce a payment based on 10 pounds, whatever it cost to buy. The rate is per article, so each item is measured on its own.
The Surface Transportation Board sets the released rates order, and 49 CFR 375.201 notes the carrier may adjust the rate annually for cost of living. The figure on your estimate is the one that applies to you.
It must be a written choice
Full value protection is the default. A mover cannot assume you want released value, and it applies only after you waive full value in writing on the valuation statement. The estimate and the bill of lading both carry that statement, and the bill of lading records the level you picked.
Because the choice is yours, take the time to read the statement at the estimate, not on the morning of the move.
When people choose it
Even then, ask your estimator about optional coverage above the basic level, since the tariff may offer other valuation choices at a stated charge.
- A move of low-value belongings that are easy to replace
- A household that carries separate homeowner's or renter's coverage and has checked how it responds to goods in transit
- A short shipment where the owner accepts the risk knowingly
Released value and your own paperwork
Declare any article worth more than 100 dollars per pound in writing before the move, or recovery on it may be limited. Photograph valuable pieces, keep receipts and mark them on the inventory so the condition is on record.
O'Brien's explains both options at the estimate, using the estimate's valuation statement. For a Nevada-only move, the Nevada Transportation Authority tariff governs liability, and the estimator will tell you what that says. Call 775-359-6683 with questions.