In the past, when you were moved courtesy of the Army and something was lost or destroyed, you would only be reimbursed based on the depreciated value. For instance, if your ten year old refrigerator was destroyed in the move, you would only be eligible to receive the value of a ten year old refrigerator.
Full replacement coverage provides that the TSP must provide a like item or repair the damaged item. In the case of the refrigerator above, you would be given the value of a new refrigerator that is similar to the one that was damaged.
The new policy covers shipments up to $5,000 or $4 times the weight of the shipment, up to a total of $50,000. For example, if you ship 2,000 lbs, your shipment would be covered for up to $8,000.
In the past, a service member could request full replacement coverage but had to pay a premium for this coverage. As of March 1, 2008, all household goods shipments are covered at no charge to the service member.
If you have a claim for damage or loss, there are certain deadlines that you must meet for filing paperwork. Do not miss these deadlines! For more information on FRV, please visit this website.