PARCEL INSURANCE VS LIMITS OF LIABILITY – WHAT DO THEY COVER?
Did you know that over 15% of small package shipments encounter some type of loss or damage each year? However, 90% of shippers rely on standard liability limits to protect their UPS shipping. While relying on UPS's standard liability may be suitable for your low-value shipments, you should know that it may not cover the full value of your higher-value goods.
By understanding the differences between standard liability and parcel insurance, you can make an educated decision about which level of protection is best suited for your business. In our downloadable tip sheet, we also outline the benefits of selecting UPS shipping insurance with UPS Capital Insurance Agency, Inc. Through our partnership with UPS Capital, Worldwide Express helps keep your small package shipments safe and alleviates the hassle of lengthy claims processes.
What does standard limits of liability cover?
If you don't declare a value for your shipment, UPS can be held liable for up to $100 worth of damage, loss or delays to your UPS shipping. It's important to note that while you can declare a higher value when scheduling your shipment (up to $50,000 per package), this will come with an additional charge and is still not the same as shipping insurance.
Why choose UPS shipping protection?
It may feel difficult to understand which level of protection is best suited for your business, but luckily, it's actually quite simple! If you want the peace of mind that your UPS shipping is fully covered – and if the value of your shipment exceeds UPS's liability limits – then you should consider investing in the industry-leading shipment protection available through the UPS Capital. This program offers a variety of affordable coverage options and ensures your shipments up to their retail value – well above the standard protection offered from your shipment's declared value.
No one likes dealing with the aftermath of lost or damaged packages. That's why many savvy business shippers choose UPS shipping protection for their small package shipments with Worldwide Express. With SpeedShip®, our easy-to-use, online transportation management system, all you have to do is check a box to request coverage and ensure your UPS shipping is fully protected from loss, damage and delays.
To learn more about the time- and cost-saving benefits of UPS insurance, download our tip sheet.