Jan
13
2019
13
2019
2019 UPS Declared Value Rate Increase
An article by shipsurance
UPS declared value rates have increased in 2019.
Declared Value Rates increased to $1.05 per $100.
Minimums are now $3.15.
This increase makes it 61% more than the same service offered 10 years ago. If you would like to cover a shipment sent via UPS valued at $150.00, they will charge you $3.15 to cover it! Remember: This is declared value coverage, not insurance.
Here is a list of all the rate changes since 2004, with a few years missing:
Year |
UPS 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% |
2019 |
$1.05 with $3.15 min. |
16% |
Total Increase: |
300% |
|
*Rate for $100.00 of coverage, per package.
We like to point out that in that same time period, our pricing has not changed with the UPS increase. 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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