Declared Value Coverage
Declared Value Coverage is the worth of a package according to the shipper.
Declared Value Coverage, also known as Declared Value or Valuation Coverage, is a term commonly used in the context of shipping, logistics, and insurance. It refers to the monetary value assigned to a package or shipment by the sender or shipper, representing the maximum amount that the carrier or shipping company will be liable to pay in the event of loss, damage, or theft during transit.
The Advantages of Declared Value Coverage
Transparent Protection: With Declared Value Coverage, you gain a transparent and clear insight into the package’s assessed worth, ensuring you know precisely the amount of compensation available in the unfortunate event of any incidents during transit.
Cost-Effectiveness: Compared to purchasing separate insurance, Declared Value Coverage is often more cost-effective, making it an attractive option for many shippers.
Simplified Claims Process: In the event of loss or damage, the claims process for Declared Value Coverage is straightforward, requiring minimal documentation.