If you are shipping a bag that was bought online how are they insured if fedex doesnt insure for over $1500?
Buying online ??
- Thread starter Hermesaholic
- Start date
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There are third party companies who offer insurance on actual value. www.shipsurance.com is one. I haven't used them but know people who have and have been pleased with the service.
I was told you can declare whatever you want --but you arent actually insured for anything over $1500.
My husband and I went into our local office and asked specifically for 7k of insurance - not a declared amount - actual insurance. The manager opened the box, verified the contents, and insured the package. I will ask him about it the next time we are there because we paid extra for insurance in that amount.
# Declared or Carriage Value: The Declared or Carriage Value represents the maximum liability for FedEx.
* Entering the value of your shipment helps FedEx provide the most accurate rate quote and transit time possible. Please refer to the FedEx Service Guide at fedex.com for more details on declared value or carriage value limits and liabilities.
* Entering the value of your shipment helps FedEx provide the most accurate rate quote and transit time possible. Please refer to the FedEx Service Guide at fedex.com for more details on declared value or carriage value limits and liabilities.
COPIED FROM THE FEDEX WEBSITE:
Declared Value and Limits of Liability (Not Insurance Coverage)
1. The declared value of any package represents our maximum liability in connection with a shipment of that package, including, but not limited to, any loss, damage, delay, misdelivery, nondelivery, misinformation, any failure to provide information, or misdelivery of information relating to the shipment. It is the shipper's responsibility to prove actual damages. Exposure to and risk of any loss in excess of the declared value is assumed by the shipper. You may transfer this risk to an insurance carrier of your choice through the purchase of an insurance policy. Contact an insurance agent or broker if you desire insurance coverage. WE DO NOT PROVIDE INSURANCE COVERAGE OF ANY KIND.
http://www.fedex.com/us/service-guide/terms/express-ground/index.html?qgroup=toggle-c1
its their scam.........seriously. fine print and all. they profit enormously but in reality you are screwed if something happens. that being said thats why they are so good--very reliable
i believe if you ship out of one of those shipping dropoff sites there are 3rd parties that will cover the additional insurance above and beyond fedex's coverage (or lack thereof).
i have shipped over $1500 declared value many many times. and have had to open the package for inspection several times. was recently told their 3rd party insurer will not cover furs at all.....
certainly insurance is provided if it is paid for.
i have shipped over $1500 declared value many many times. and have had to open the package for inspection several times. was recently told their 3rd party insurer will not cover furs at all.....
certainly insurance is provided if it is paid for.
This is interesting. If Fedex charges more to send something with declared value above $1500 than if the declared value is less, then it ought to be providing something in return. It doesn't cost them more to deliver something just because it's worth more than $1500.
I am wondering if it's a question of wording. Reading Fedex's written words, it sounds like they are making sure they are not liable for consequential/remote damages (e.g., you ship something necessary for completing a contract with someone else, and because the delivery is messed up, you don't get the item and your contract is violated and your counterparty sues you for an amount that doesn't bear a real relationship to the declared value of the shipped item). I can see why Fedex would want their maximum liability to be the declared value of the item shipped. They say they don't provide insurance of any kind, which I think protects them in this consequential damage situation. What isn't clear to me is that they are saying they are not liable for anything above $1500. If that is the case, then why ask you for the declared value and let you state it's above $1500 and charge you more for it at all?
They say the shipper has to prove the actual loss. If the declared value is X (and it's above $1500) and the item gets lost, that is pretty obvious that X is the actual loss (not consequential loss like the example I gave above). The fact that Fedex insists on opening the package to inspect it would seem to support that they do make sure the item is as declared.
I would love to know if anyone has actually shipped something, declared it above $1500, paid Fedex's extra charge for shipping something worth more than $1500, lost it during Fedex's shipment, and then been denied any compensation by Fedex above $1500 with Fedex invoking this language in their contract.
I am wondering if it's a question of wording. Reading Fedex's written words, it sounds like they are making sure they are not liable for consequential/remote damages (e.g., you ship something necessary for completing a contract with someone else, and because the delivery is messed up, you don't get the item and your contract is violated and your counterparty sues you for an amount that doesn't bear a real relationship to the declared value of the shipped item). I can see why Fedex would want their maximum liability to be the declared value of the item shipped. They say they don't provide insurance of any kind, which I think protects them in this consequential damage situation. What isn't clear to me is that they are saying they are not liable for anything above $1500. If that is the case, then why ask you for the declared value and let you state it's above $1500 and charge you more for it at all?
They say the shipper has to prove the actual loss. If the declared value is X (and it's above $1500) and the item gets lost, that is pretty obvious that X is the actual loss (not consequential loss like the example I gave above). The fact that Fedex insists on opening the package to inspect it would seem to support that they do make sure the item is as declared.
I would love to know if anyone has actually shipped something, declared it above $1500, paid Fedex's extra charge for shipping something worth more than $1500, lost it during Fedex's shipment, and then been denied any compensation by Fedex above $1500 with Fedex invoking this language in their contract.
I used to use FedEx all the time but have not done so anymore. I must second what Hermesaholic says about declared value, that it is not actually an insurance. I shipped a package with a value of $2000 and parts of the package went missing! I have communicated back and forth with the Manager in their Claims Department, and in the end, I could only get a check issued for me for $1000. No matter how much I "insure" it for, the computer won't even let her issue a check above $1000. That's what she told me. I now use UPS if I need to ship anything and thankfully have no problem so far.
FedEx does not provide insurance coverage, and yes, it's ridiculous that they will charge you for a higher declared value.
I used a diamond broker a few months back and the first diamond he sent I decided to return. He told me to ship it USPS registered mail because UPS and FedEx do not actually insure items. Even registered mail will only insure up to $25,000, so I had to "trust" that the diamond was going to get to it's destination or I would have been out a lot of money!
From the FedEx site:
Effective Date September 6, 2011
Item 781 Rule
Declared value and limits of liability
(Not Insurance Coverage)
Exposure to and risk of any loss in excess of the maximum liability as outlined in Item 420 is either assumed by the Shipper or transferred by the Shipper to an insurance carrier through the purchase of an insurance policy. The Shipper should contact an insurance agent or broker if insurance coverage is desired.
Carrier does not provide insurance coverage of any kind.
FedEx "Express Shipping" terms and conditions are enough to keep any attorney busy for a while. When you read each and every exception and exemption (such as their denial of any insurance claim if you use a FedEx AUTHORIZED ship center) you find that they will possibly pay on a claim (if each and every rule has been followed to a T for filing a claim) a maximum of $1500.
I need a glass of wine now after reading all of their terms!
:weird:
I used a diamond broker a few months back and the first diamond he sent I decided to return. He told me to ship it USPS registered mail because UPS and FedEx do not actually insure items. Even registered mail will only insure up to $25,000, so I had to "trust" that the diamond was going to get to it's destination or I would have been out a lot of money!
From the FedEx site:
Effective Date September 6, 2011
Item 781 Rule
Declared value and limits of liability
(Not Insurance Coverage)
Exposure to and risk of any loss in excess of the maximum liability as outlined in Item 420 is either assumed by the Shipper or transferred by the Shipper to an insurance carrier through the purchase of an insurance policy. The Shipper should contact an insurance agent or broker if insurance coverage is desired.
Carrier does not provide insurance coverage of any kind.
FedEx "Express Shipping" terms and conditions are enough to keep any attorney busy for a while. When you read each and every exception and exemption (such as their denial of any insurance claim if you use a FedEx AUTHORIZED ship center) you find that they will possibly pay on a claim (if each and every rule has been followed to a T for filing a claim) a maximum of $1500.
I need a glass of wine now after reading all of their terms!
:weird: