Results 1 to 5 of 5
-
January 29, 2017, 09:15 PM #1
- Join Date
- Oct 2013
- Location
- Sacramento
- Posts
- 1,129
How Does FedEx "Declared Value" Work?
I am not inviting horror stories about denied claims. I have always wondered how Declared Value works. Store clerks are clueless. All they can tell me is it isn't really "insurance" and it is by a third party.
I think the insurance rate is somewhat high especially if something is only getting shipped a short distance. I am inclined to insure for what I think the cost of repair, not replacement might be. That also gets a signature automatically if the amount is over $500(?).
If a $6K item is sent Declared Value $1500 and it is damaged what happens? Will "they" look at actual repair cost or just pay the $1500 and keep the item? Does the shipper have the option of having the item returned? I assume that would be without payment from the third party and would be like having no insurance at all so why spend the money.
-
January 29, 2017, 10:23 PM #2
Re: How Does FedEx "Declared Value" Work?
Dizzie.......I found this in a brief search:
Per Fedex:
"The declared value of any package represents our maximum liability in connection with a shipment of that package, including, but not limited to, any loss, damage, delay, misdelivery, nondelivery, misinformation, any failure to provide information, or misdelivery of information relating to the shipment. It is the shipper's responsibility to prove actual damages. Exposure to and risk of any loss in excess of the declared value is assumed by the shipper. You may transfer this risk to an insurance carrier of your choice through the purchase of an insurance policy. Contact an insurance agent or broker if you desire insurance coverage. WE DO NOT PROVIDE INSURANCE COVERAGE OF ANY KIND. "Dan
STUDIO - McIntosh C1000C/P, MC2301 (2), MR88, Aurender N10, Esoteric K-01X, Shunyata Sigma spdif digital coax, Sonos Connect, Stillpoints Ultra SS & Ultra Mini, PurePower 2000, Furutech Flux 50, Michell Gyro SE, Michell HR Power Supply, SME 309, Ortofon Cadenza Black, Sonus faber Amati Anniversario
LIVING ROOM - McIntosh C2300, MC75 (2), MR85, Magnum Dynalab 205 Signal Sleuth, Sonos Connect, Simaudio MOON Neo 260D-T, Schiit Audio Yggdrasil, Aurender N100H, Shunyata Sigma USB cable, Sony DAT 60ES, Nakamichi BX-300, Micro Seiki DD40 w/m505A tonearm, Ortofon Cadenza Blue, PS Audio P10, Furutech Flux 50, Stillpoints Ultra Mini, PMC EB1i, JL Audio f113
VINTAGE - McIntosh 4300V, McIntosh MA230, Tandberg 3011A tuner, Olive 04HD, JBL 4312A
-
January 30, 2017, 09:31 AM #3
- Join Date
- Aug 2016
- Location
- North Carolina
- Posts
- 203
Re: How Does FedEx "Declared Value" Work?
In my experience, if you ever have a claim, you will have to prove to Fedex, via purchase invoices/receipts/etc of what the value of the item is. If the item is not new that you are shipping, it becomes a tad harder on the payout.
In your example, if a $6k item is sent insured for $1500, and it's damaged, you have to first prove the damage (they may send someone to see it in person) and then prove the value of the item. They will only pay up to the $1500.....if it cost's $800 to repair (for example), then that is what's paid. If it's totaled or the repair cost exceeds $1500, they will only pay up to the $1500.
As you have noted, the insurance options (for both Fedex and UPS) are fairly pricey.Goldprint Audio -- Dealer For: PS Audio -- Leben -- KEF -- Line Magnetic -- DeVore Fidelity -- Joseph Audio -- Sugden -- Rogue Audio -- Manley Labs -- VPI Industries -- Bel Canto -- Alta Audio -- Tannoy -- Rega -- Kimber Kable -- Ortofon -- Chord -- Sonos -- Quadraspire -- Salamander -- SVS Sound -- Torus Power -- Audio Desk -- Gingko -- Auditorium 23 -- Box Furniture -- Krell -- Cary Audio -- Soundsmith -- EMT
www.goldprintaudio.com
-
January 30, 2017, 01:07 PM #4
- Join Date
- Oct 2013
- Location
- Sacramento
- Posts
- 1,129
Re: How Does FedEx "Declared Value" Work?
I get that the transporter's maximum liability is the amount of the Declared Value. My question is do they pay that amount and then keep the item even if it is wort a lot more or could that money be put toward repairs. It is about the shipper trying to cover any minor damage (eg dinged face-plate or loose transformer) but not cover complete loss which would be more rare especially for short distances.
Exactly what this translates to confuses me (and I used to deal daily with federal and state hazardous waste regulations). I was hoping someone was unfortunate enough to have first hand experience.
"Exposure to and risk of any loss in excess of the declared value is assumed by the shipper."
-
February 1, 2017, 02:21 AM #5
Re: How Does FedEx "Declared Value" Work?
I had a pair of KEF R500's get damaged in shipping to a friend of mine. The declared value was the new retail price. The damage was only slight and on one speaker. It took a bit of convincing and phone calls and pictures and emails, but ultimately they paid out a depreciated value of the single speaker and my buddy kept them. He wound up with the speakers for about $500 out of pocket and the damage isn't even visible from the front when seated. He was happy.
- Woody
Sent from my iPad using Tapatalk Pro
AudioShark - The Best High End Audio Discussion forum.
AudioShark forum is a leading forum site for High End Audio Discussion, Stereo System Discussion, Home Theater System Discussion, Best Home Stereo System Discussion, Home Theater Installation Discussion etc.
The AudioShark forum was created for sharing the passion of high-end Audio. We have Audiophiles from all over the world participating and sharing their knowledge. From novice to experts, you will find a friendly environment for discussing about High End Audio, Stereo System, Home Theater System, Home Stereo System, Home Theater Installation, Amplifiers, Speakers, Subwoofers, Integrated System, Acoustic treatments & Digital Room Corrections and many more.
At AudioShark, we also have incorporated an exciting Marketplace where members can peruse terrific buys on used gear, as well as meet dealers and discuss the purchase of new gear.
We are as crazy about this hobby as you are! So come on in and join us! Audioshark.org the Friendliest Audio Forum!
Industry Participation Disclosure : The owner and administrator of Audioshark is the owner of Suncoast Audio LLC in Sarasota Florida. Suncoast Audio has a full brick and mortar presence in Sarasota with several great show rooms with many world class brands. More information can be found at http://www.suncoastaudio.com
Audioshark is a community of like minded individuals. Audioshark welcomes participation from all manufacturers and owners of all brands and products. It is our belief that online forums provide a community of like minded audiophiles and music lovers to encourage the growth of this wonderful hobby.
Sincerely,
The Audioshark.org Team
AudioShark forum is a leading forum site for High End Audio Discussion, Stereo System Discussion, Home Theater System Discussion, Best Home Stereo System Discussion, Home Theater Installation Discussion etc.
The AudioShark forum was created for sharing the passion of high-end Audio. We have Audiophiles from all over the world participating and sharing their knowledge. From novice to experts, you will find a friendly environment for discussing about High End Audio, Stereo System, Home Theater System, Home Stereo System, Home Theater Installation, Amplifiers, Speakers, Subwoofers, Integrated System, Acoustic treatments & Digital Room Corrections and many more.
At AudioShark, we also have incorporated an exciting Marketplace where members can peruse terrific buys on used gear, as well as meet dealers and discuss the purchase of new gear.
We are as crazy about this hobby as you are! So come on in and join us! Audioshark.org the Friendliest Audio Forum!
Industry Participation Disclosure : The owner and administrator of Audioshark is the owner of Suncoast Audio LLC in Sarasota Florida. Suncoast Audio has a full brick and mortar presence in Sarasota with several great show rooms with many world class brands. More information can be found at http://www.suncoastaudio.com
Audioshark is a community of like minded individuals. Audioshark welcomes participation from all manufacturers and owners of all brands and products. It is our belief that online forums provide a community of like minded audiophiles and music lovers to encourage the growth of this wonderful hobby.
Sincerely,
The Audioshark.org Team
12V is sufficient, and the LHY power supply Adam recommended is an excellent power supply.
Nucleus one