Parcel Insurance - If You Value Them, Insure Them!

Parcel Insurance

Yes, this is the page about parcel insurance. Granted, this won’t be the most exciting page you’ll read today – not after that link you clicked showing the skydiving dog. However, if you’re shipping your treasured possessions with us, it will be worth reading about the insurance packages we offer.

Basic Parcel Insurance

Seven Seas Worldwide automatically provides Basic Insurance cover of 100.00 for each box, suitcase, backpack, holdall or any other individually-packed item at a cost of 3.50 for each item. 

‘What does that do for me?’ we hear you say. Well, this insurance covers total loss of the box, suitcase, backpack, holdall or other individually-packed items. However it does not cover partial loss of the box, suitcase, backpack, holdall or other individually-packed item.  Basic Insurance cover incurs an additional charge. It is company policy to recommend this insurance cover because it’s minimal yet beneficial. You can say ‘Thanks but no thanks’ if you wish, that’s up to you.

Premier Parcel Insurance

(Exclusions apply – Please refer to the Terms and Conditions)

The Insurance Premier payable for cover is calculated as 5% of the ‘replacement value’ of the items that have been inventoried in the shipment. The ‘replacement value’ is the value that it would cost to repurchase the lost items. The value of the items you are insuring should be reflected in the currency of the country where they presently reside.

Tell you what, here’s a quick example.

Below is a table of calculations. There is no maximum insurable value for any one box. 

Replacement value  250 750 1,000 1,500 2,000 2,000+
5% Insurance cover 12.50 37.50 50.00 75.00 100.00 100.00+

Below is an example of how to calculate the premium.  

Clothes 150 CDs/Vinyl Records 70
Books x DVDs/Videos 35
Bed Linen/Cutlery x Printer (remove cartridge) x
Computer/TV x Other Electrical Items x
Sports Equipment (e.g. bike) x Children's Toys 50
Photos/Paintings 80 Total 385

Example premium calculation – Take 5% of 385.00 = 19.25 (premium to pay).  There is a single limit of 25% applied to each respective category. So let’s take our example - if a single item of clothing is lost then the maximum you can claim would be 25% of Box 1, Clothes Value 150, equalling 37.50. 

Make sure that your personal effects are insured for their FULL replacement value in the country of destination. If you under-insure your goods, we will have to ‘average’ the value.

Here’s another example. An item is insured for 100.00 but the ‘true value’ of the item is 200.00. This means that the item is 50% under-insured. Therefore, you would only receive the 'average value' of those items you had insured. So 50% of 100 = 50.

And finally – damage. Damage to the contents of a consignment is not covered unless the items damaged have been carefully packed either by Seven Seas Worldwide, a reputable vendor from whom the item was bought or if they were shipped off in their original packaging. If you see unused space in the box after packing, keep it free!  A bit of space can be important to the protection of the other items in the box.

It is up to you to ensure that your completed insurance form is received by Seven Seas Worldwide and payment has been made for the Premier. Any delay to this will result in delays to your shipment. No one wants that. Amendments to insurance after we collect will receive a ‘Change Insurance Details Charge’.

Please contact our offices immediately in the event of a claim. Either on the local freephone number as shown on our website or via email insurance@sevenseasworldwide.com.

All claims MUST be submitted within 30 days of receipt of consignment.

Okay, that’s all. Now back to the dog.