The insurance cost for Declared Value (insured value) is listed below:
For packages that have a Declared Value between $1.00 and $100, insurance is offered free of charge.
The insurance costs is a flat $2.50 plus $1.50 pro rated for each additional $100 dollars after the minimum is met. Each $100 is considered 1 unit.
For example, a $260 Declared Value amount will result in a cost of $3.90 to insure. (2.6 units x $1.50 = $3.90)
There are limitations for insuring shipments
- There is a $5,000 per parcel 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.
- Insurance is also available for LTL shipments for up to $5000 per shipment.
Shipment that are processed without a declared value are not insured.
For insuring shipments within Quebec, please click HERE for more details.