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GPS, working with a private insurance group, starting 4/15/13, offer third party insurance on our DHL outbound shipments. (from USA)
Premium Calculation:
- Handling Fee: US$5.00 (Per HAWB)
- Premium: 0.5% ($5 per $1,000), Minimum $15.
- Examples:
$2,000 Value = $2,000 x 0.005 = $10; Premium = $15 + $5 = $20
$3,000 Value = $3,000 x 0.005 = $15; Premium = $15 + $5 = $20
$4,000 Value = $4,000 x 0.005 = $20; Premium = $20 + $5 = $25
Scope Of Coverage:
- Merchandise that can be lawfully sold and transported, excluding harzadous goods, weapons, firearms, and all equipment that require export license from US Department Of Commerce.
- Maximum Insured Value: US$20,000.00。
- Only shipments with DHL, FedEx, UPS, TNT.
- Insured goods must be handed to these 4 carriers by GPS.
- Insured only Lost. Damages or short shipment will be covered by carrier's standard policy.
- Actions taken by Customs authorities (duties, taxes, return, confiscation) are not covered by the polity.
How To Purchase:
The insured requests a quote from GPS.
- The insured requests a quote from GPS.
- GPS issues a quote. (We reserve the right to decline coverages on merchandise of unknown origins).
- The insured accepts the quote.
- GPS arranges shipments, generates carrier waybill.
- GPS issues invoice for the insurance premium with reference to the tracking number.
- Insurance premium must be paid before the shipment is picked up by carrier.
How To File A Claim:
- The shipment must be documented as lost by the carrier, either in writting or by web.
- The insured will file a claim which will include an invoice of which the merchandise was purchased on.
- GPS will verify:
The premium was paid prior to the shipment pick up by the carrier.
The shipment did go through carrier system, and was determined lost.
The claimed value is comparable with the merchandise' market value.
- Upon approving the claim, GPS will issue immediate credit to the insured party's account.
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