UPS provides all packages automatically with $100 worth of liability for loss or damage. A shipper can declare a higher value for the shipment with an additional charge. With this in mind, UPS specifically states that UPS’s declared value is not insurance.
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The declared value of the package | 2024 Cost |
Value from $0 to $100 | Free |
Value from $100.01 to $300 | $4.35 |
Value over $300, charge for each $100 | $1.45 per $100 declared |
Page 171 of the UPS Tariff/Terms and Conditions of Service indicates that UPS does not offer insurance on any item with a declared value over $100, and insurance should be obtained elsewhere. Whenever a shipper declares less than $100 of value, UPS will pay out the lowest of $100, the declared value, the depreciated price of the item, or the repair cost.
Declared value fees can truly add up without a shipper ever noticing, and small costs on each package can go unnoticed. In conclusion, if you are not sure how much you spend on these fees, you need to look at Refund Retriever’s full suite of reports and analytics.
This information highlights the areas our clients have problems with; therefore, refer to the UPS service guide for the complete list of limitations and exclusions. In conclusion, if you want to learn more about lowering your UPS declared value fees, contact us at Refund Retriever.