What is insurance coverage and how can I buy additional shipping insurance?
Home > FAQs > What is insurance coverage and how can I buy additional shipping insurance?
We cover damaged or lost packages by following carriers’ policies to decide on the compensation amount. Since each carrier has its own compensation policy and limits the maximum amount to be compensated, you can buy shipping insurance to be eligible for additional compensation in case of any shipping issue. Please note that an undervalued package is not eligible for full compensation.
Please refer to below insurance coverage by carriers and the additional insurance fee & handling fee charged by the carrier and Delivered Korea. Please contact the Delivered Support team(support@delivered.co.kr)to get a quotation for insurance/declaring a value for your shipment.
FedEx
- Free insurance coverage: Max. $20/kg or US$100 which is greater
Note! FedEx does not offer shipping insurance and their free coverage is limited to a maximum compensation of US$100 or $20/kg whichever is greater. If you want a higher liability of the carrier, you can declare a value with FedEx and pay a Declared Value Surcharge which is decided on the details and destination of the package. Please note that declaring a value with the carrier is completely independent of your insurance arrangement, and it does not guarantee you’ll be fully reimbursed for a lost or damaged shipment or receive the exact amount you declared.
EMS
- Free insurance: 70,000KRW + 7,870KRW/kg
- Additional insurance fee: $5(Delivered Insurance Handling Fee) + $3 (up to KRW 114,300), +$0.5/KRW114,300
UPS
- Free insurance: Max. $100
Note! UPS Does not offer shipping insurance and their free coverage is limited to a maximum compensation of US$100. If you want a higher liability of the carrier, you can declare a value with UPS and pay a Declared Value Surcharge which is decided on the details and destination of the package. Please note that declaring a value with the carrier is completely independent of your insurance arrangement, and it does not guarantee you’ll be fully reimbursed for a lost or damaged shipment or receive the exact amount you declared.
ARAMEX
- Free insurance coverage: up to US$100
- Additional insurance fee: $5(Delivered Insurance Handling Fee) + $20/package (covers up to 110% of an invoice value)
Note! This coverage guarantees insurance until the package arrives at the destination airport and does not guarantee insurance for door-to-door delivery.
DELIVERED STANDARD
- Free insurance coverage: up to KRW55,000
Note! Since this is one of the cheapest economy shipping that has a good quality-price ratio, the compensated amount is KRW 55,000 in default regardless of package weight or invoice value. If you want higher coverage, we recommend you use other carriers.
Singapore Air
- Free insurance coverage: up to KRW 80,000 or the value of the goods whichever is lower
Note! The compensated amount is KRW 80,000 or the value of the goods whichever is lower in default regardless of package weight or invoice value. If you want higher coverage, we recommend you use other carriers.
If you have any questions, please email us at support@delivered.co.kr. Thank you very much.
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