When it comes to shipping valuable items, many people wonder whether their package is safe during transit. While shipping companies take precautions to ensure that packages arrive at their destination intact, accidents can still happen. This is why many people opt for shipping insurance to protect their valuable items. In this article, we will explore whether FedEx offers insurance and what types of coverage are available.
Section 1: Overview of FedEx Insurance
FedEx offers several types of insurance coverage for its customers. These include declared value coverage, which covers the cost of the item being shipped up to a certain amount, and FedEx Declared Value Advantage, which provides additional coverage for high-value items. In addition, FedEx also offers third-party insurance through its partnership with Parcel Pro.
Declared value coverage is automatically included in FedEx’s shipping rates and covers up to $100 in value for domestic shipments and up to $200 for international shipments. Customers can also purchase additional coverage up to a maximum of $50,000 per package. The cost of additional coverage varies depending on the value of the item being shipped and the destination.
FedEx Declared Value Advantage is an optional service that provides additional coverage for high-value items up to $100,000 per package. This service is available for both domestic and international shipments and can be purchased for an additional fee.
Third-party insurance through Parcel Pro is available for customers who need coverage for items that exceed FedEx’s declared value limits. Parcel Pro offers coverage up to $150,000 per package and can be purchased through FedEx’s website or directly through Parcel Pro.
Section 2: What Does Declared Value Coverage Include?
Declared value coverage is automatically included in FedEx’s shipping rates and covers up to $100 in value for domestic shipments and up to $200 for international shipments. This coverage includes protection against loss or damage during transit, as well as liability for any damage caused by FedEx
If a package is lost or damaged during transit, customers can file a claim with FedEx to receive compensation for the declared value of the item. However, it is important to note that declared value coverage does not cover items that are prohibited or restricted by law, such as hazardous materials or illegal substances.
Customers can purchase additional coverage up to a maximum of $50,000 per package. The cost of additional coverage varies depending on the value of the item being shipped and the destination. For example, shipping a $10,000 item from New York to Los Angeles would cost an additional $75 in insurance fees.
Section 3: What Does FedEx Declared Value Advantage Include?
FedEx Declared Value Advantage is an optional service that provides additional coverage for high-value items up to $100,000 per package. This service is available for both domestic and international shipments and can be purchased for an additional fee.
In addition to the coverage provided by declared value coverage, Declared Value Advantage also includes protection against loss or damage caused by weather-related events, such as hurricanes or tornadoes. It also covers items that are lost or damaged due to theft or pilferage.
Customers who purchase Declared Value Advantage can file a claim with FedEx to receive compensation for the declared value of the item if it is lost or damaged during transit. However, it is important to note that this service does not cover items that are prohibited or restricted by law.
Section 4: What is Parcel Pro?
Parcel Pro is a third-party insurance provider that offers coverage for items that exceed FedEx’s declared value limits. Parcel Pro offers coverage up to $150,000 per package and can be purchased through FedEx’s website or directly through Parcel Pro.
Parcel Pro’s coverage includes protection against loss or damage during transit, as well as liability for any damage caused by FedEx employees. It also covers items that are lost or damaged due to weather-related events, theft, or pilferage.
Customers who purchase Parcel Pro insurance can file a claim with Parcel Pro to receive compensation for the declared value of the item if it is lost or damaged during transit. However, it is important to note that Parcel Pro’s coverage does not cover items that are prohibited or restricted by law.
Conclusion
In conclusion, FedEx offers several types of insurance coverage for its customers, including declared value coverage, FedEx Declared Value Advantage, and third-party insurance through Parcel Pro. These services provide protection against loss or damage during transit and liability for any damage caused by FedEx employees. Customers should carefully consider their shipping needs and the value of their items when deciding which type of insurance to purchase. By doing so, they can ensure that their valuable items are protected during transit.