Declared Value Rates increasing to $0.75 per $100.
The time has just about arrived. FedEx and UPS are raising their rates on their services effective January 3rd, 2011. Their shipping rates are increasing as well as their rates for auxiliary services, such as declared value.
The declared value costs, also mistakenly called insurance cost, is increasing by 7%.
But that is not the whole story. The minimum charges will increase from $2.10 to $2.25. If you want coverage from FedEx or UPS for a shipment valued at $150.00, they will charge you $2.25 to cover it! Just a few years ago, FedEx and UPS charged $0.30 for this same coverage.
If you have thought about shipping insurance with a private insurance company like Shipsurance, now is the time to take another look.
Our pricing has not changed with the carrier increases. In fact, we have lowered our pricing over the years.
- Low coverage rates.
- Broader coverage. You do not have to keep track of what FedEx, UPS, USPS, etc will or will not cover.
- Rapid, FAIR, and paperless claims process.
- Insurance integrated with most major shipping systems.
- Friendly customer service. If you have a claim, you will be dealing with one Representative not passed around to restate the issue.