Insurance on the first $100.00 of a shipment's value is included in the freight
charges if it contains Insurable Goods.
Greater insurance may be obtained at the time of shipping up to a value of $2500.00.
This is called declared value, which must be entered in the corresponding
space on the waybill.
The cost is 3% of the declared value in excess of $100.00, plus all applicable taxes.
This amount is entered in the space on the waybill labeled 'value'.
If the declared value is $225.00, the insurance charge is ($225 - $100) X 0.03 =
$3.75, plus all applicable taxes should be entered on the waybill.
Insurance may be placed on both prepaid and collect shipments and is required on
STC COD Shipments.
For insurance to be valid, the 'contents' space on the waybill must contain an accurate
description of the goods. 'Box' or 'gifts' is not informative enough to allow the
accepting agent to decide if the shipment may be insurable.
As noted in Basic Terms and Conditions (11):
'Fresh flowers, food or breakable articles will be transported at shipper's risk
only.' Some identified shipper's risk items are: glass, ceramics, porcelain, electronic
items (such as TVs, radios, computers, stereos) unless they are in their original
boxes, and framed artwork. The accepting agent may use their own judgment in declaring
other items as 'shipper's risk.'