Parcel Post Insurance
What Does Parcel Post Insurance Mean?
Parcel post insurance provides coverage for damage to or loss of items shipped through a government courier, such as the US Postal Service, or a private courier company. The courier typically offers this insurance, with the premium determined by the value of the items being shipped. However, certain items may be excluded from this coverage.
Insuranceopedia Explains Parcel Post Insurance
When sending a parcel, the sender is asked about the item’s nature and value. For valuable items, such as laptops, e-readers, or collectibles, the courier office often recommends purchasing parcel post insurance to protect the shipment. The insurance premium is calculated based on the market value of the items being shipped.
If the insured item is damaged or lost during transit and this is discovered upon delivery, the sender can file a claim to recover an amount equivalent to the item’s market value.
