On My Shipping Forms, What Is My Declared Value?

Whenever you ship something with a courier company

, there is going to be a certain number of forms that you have to fill out. Usually these are simply things indicating that location that you are shipping to, any special services that you require on that particular shipment, and your billing preference. These are sometimes now completed online. One thing that your courier service may, and probably will, ask you to let them know is the declared value on each of your shipments.

Declared value is a number that is used for insurance purposes. Courier companies all carry something that they usually just call courier insurance. This means that on top of all the vehicle policies they carry, they have a separate policy which covers anything that belongs to their clients which they might be moving for them. The declared value of your goods is stating how much your goods are worth in case there is ever a need for an insurance claim to made on them.

This type of insurance covers most of the major damages that might happen to something while it is in transit with a courier company. Theft and loss are certainly covered, as is damage which might be sustained in a collision, all possible damages when discussing delivery services. More unlikely scenarios such as weather damage or vandalism are also usually covered.

Like many insurance policies though, there is a maximum amount that this courier insurance will pay in order to replace any damaged goods that are shipped with your courier. That is why when you are filling out the declared value on your shipping forms, you should always ask what the maximum declared value is for that shipment. This is the highest amount that you would ever be able to claim if something should happen to your packages.

The maximum declared value can be different on different shipments with the same courier company. If you've shipped with them before, don't automatically assume that you know the maximum declared value, and be sure to check again. That number is often based on the size of the vehicle being used in shipping, as larger vehicles have a tendency to carry larger, and therefore more valuable, packages.

If you're shipping goods that are extremely valuable, you should also ask the declared value well in advance of shipping. If that number happens to be much lower than the value of your goods you may need to explore supplemental insurance options.

by: Paul McDuffy

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