Shipping Documents And Declared Value

If you are using the services of a courier service in Chicago

, you will have likely encountered a value included on a shipping form known as "declared value". Every package slip that you ship with a courier, despite the destination of that package, will ask you to state a declared value. This value represents the maximum amount that the delivery service will consider themselves liable for in the event of damage or loss. This amount may not exactly reflect your shipment's actual value, as all courier companies will have an amount that is the highest value you can expect to list. This amount may vary for different divisions. The maximum amount you can claim for a parcel shipped via bicycle messenger, for example, may be different than the maximum you can declare for cargo being shipped interstate or internationally on a truck, airplane, or boat.

If you business is transporting a shipment through a courier service in Chicago, and you find it is worth far more than the maximum value that you can declare, you might want to considerate an additional insurance policy. Since the maximum declared value is the highest amount that the shipping company is required to be held liable for, the company will likely offer other insurance options that will be charged to you at a their premium. This will allow your shipment to be adequately covered in the event of loss or damage to your goods, and you will probably want to use this option if your parcel contains materials that are extremely rare, valuable, or irreplaceable in a personal nature.

If you feel you need additional coverage on your shipment, call your courier and speak to a representative. They should be able to provide you with information, such as what insurance options are available, and at what cost. Since couriers, by nature, must carry many comprehensive insurance policies, it is often not difficult nor expensive to add a rider that will supply the extra coverage that you need. If your courier does not have this option, you may have to look at your existing policies that cover your business and its assets. For inexpensive items, this is probably not necessary, but if you are concerned at all about the replacement costs of your shipment - particularly if it is lost, damaged, or stolen - you will probably want to consider purchasing additional insurance through whatever means necessary.

by: Norman Packwell

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