The insurance cost for Declared Value is listed below:
For packages that have a Declared Value between $1.00 and $100, insurance is offered free of charge.
For each $100 dollars after the first $100, the insurance costs $1.50 pro rated. Each $100 is considered 1 unit.
For example, a $250 Declared Value amount will result in a $3.75 insurance cost to insure. (2.5 units x $1.50 = $3.75)
There are limitations for insuring shipments
- There is a $5,000 per box with a $100,000 limit per shipment/order.
- BYOR Shipments are offered with the same guidelines, with ShipTime being responsible for the insurance charges, while shipment charges are handled directly by the carrier.
- Declared Value / Insurance is not available for LTL shipments.