Dec
30
2013

2014 FedEx and UPS Declared Value Rate Increases

The major U.S. based shipping carriers are raising their declared value rates again. FedEx and UPS have raised their rates for declared value protection effective January 6th, 2014 and December 30th, 2013, respectively. 

Declared Value Rates increasing to $0.90 per $100.

Minimums are now $2.70.

This increase makes it 10 years in a row of declared value fee increases. If you want coverage from FedEx or UPS for a shipment valued at $150.00, they will charge you $2.70 to cover it! Remember: This is declared value coverage, not insurance.

Here is a list of all the rate changes in the past 10 years:

  Year

  UPS & FedEx Rate*

  % Increase

  2004

  $0.35 with $1.05 min.

  –

  2005

  $0.40 with $1.20 min

  14%

  2006

  $0.50 with $1.50 min.

  25%

  2007

  $0.55 with $1.65 min.

  10%

  2008

  $0.60 with $1.80 min.

  9%

  2009

  $0.65 with $1.95 min.

  8%

  2010

  $0.70 with $2.10 min.

  7.5%

  2011

  $0.75 with $2.25 min.

  7%

  2012

  $0.80 with $2.40 min.

  6.7%

  2013

  $0.85 with $2.55 min.

  6.3%

  2014

  $0.90 with $2.70 min.

  5.8%

  Total Increase:

  257%

*Rate for $100.00 of coverage, per package.

On the flip side, our pricing has not changed with the carrier increases. In fact, we have lowered our pricing over the years.

Why Shipsurance?:

  • 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.

 

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