Oct
21
2020
21
2020
2021 FedEx Declared Value Rate Increase
An article by shipsurance
FedEx declared value rates have increased again in 2021.
Declared Value Rates increased to $1.15 per $100.
Minimums are now $3.45.
This increase makes it more than 64% more than the same service offered 10 years ago. If you would like to cover a shipment sent via FedEx valued at $150.00, they will charge you $3.45 to cover it! Remember: This is declared value coverage, not insurance.
Here is a list of all the rate changes since 2004:
Year |
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% |
2015 |
$0.90 with $2.70 min. |
0.0% |
2016 |
$0.95 with $2.90 min. |
5.5% |
2017 |
$0.95 with $2.90 min. |
0.0% |
2018 |
$0.95 with $2.90 min. |
0.0% |
2019 |
$0.95 with $2.90 min. |
0.0% |
2020 |
$1.05 with $3.15 min. |
10.5% |
2021 |
$1.15 with $3.45 min. |
9.5% |
Total Increase: |
228% |
|
*Rate for $100.00 of coverage, per package.
Shipsurance pricing has not changed with the FedEx increase. In fact, we have lowered our pricing over the years.
Why Should you Insure with Shipsurance?:
- Low coverage rates. Often 90% less than FedEx Declared Value Coverage.
- 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 claims representative and not passed around to restate the issue.
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