The Surface Transportation Board (STB) has made three (3) major changes in the way that shipment valuation will apply when you transport interstate household goods shipments for individual (COD) shippers. The changes become effective MAY 15, 2012.
The STB ruling represents good news for both consumers and the moving industry. The changes will reduce shipper confusion over liability limits and consumers will be afforded an enhanced protection level which is more consistent with typical homeowner coverage on their possessions. The industry will benefit from simplified paperwork and a more straightforward valuation declaration process.Beginning no later than May 15, 2012, the new STB rule means that all initial estimates you provide for individual customers must include Full Value Protection in the estimated cost of the move. You can also provide an additional estimate, if the customer requests one, based on the 60-cents per pound level of liability.
However, unless your customer waives in writing the Full Value Protection level of liability and specifically chooses the estimated cost based on the 60-cent per pound level of liability, the shipmentMUST be transported at the Full Value Protection level of liability