Everything To Know About Shipping Insurance For High-Value Items

Posted by Benjamin Meskin on Dec 22, 2020 9:00:00 AM
Benjamin Meskin

You may be wondering if you have the proper insurance coverage secured when shipping high-value items, like gold, silver, and gemstones. Jewelry shipping insurance should not be an afterthought, but with so many shipping options and policies to consider, where does one start? What is important to know about shipping high-value items, and how can you find help? 

Shipping carriers like UPS, FedEx, and the United States Post Office can be handy resources. Still, sometimes you need more specialized information from experts in shipping insurance for high-value items. 


What Is High-Value Item Shipping Insurance?

High-value item shipping insurance protects against loss or damage while items are in transit. The shipping carrier typically offers policies, but the coverage they may provide may not be sufficient for all high-value items. Adding another layer of protection through a third-party jewelry shipping insurance policy, like the ones offered by Cabrella, is a smart idea; comparing prices to find the best value can also save money. 

High-value watch in a store

What Qualifies as High Value?

Jewelry may be the first thing that comes to mind as a high-value item. However, there are many others, such as pieces of art, luxury clothing, bags, shoes, fur coats, musical instruments, stamps, electronics, and antiques. 

Some industries and items are more difficult to insure than others. High-value items such as firearms or chemicals are often excluded from traditional carriers. These risky items need specialty coverage given their volatile nature. Industries where there are ethical concerns, are becoming increasingly difficult to insure. Traditional carriers have made moves to distance themselves from ethical challenges and stop insuring specific sectors, such as coal, tobacco, and diamonds sourced in conflict areas or with questionable labor.  

High value jewelry

Why High-Value Item Shipping Insurance is Important

It is essential to consider high-value item insurance carefully. Not all policies are created equally, and when it comes to protecting a valuable – and often one-of-a-kind – item, you want to be sure you are protected. Coverage comes in various forms. Without adding specialty insurance for high-value items, you may be limited to standard shipping coverage, which will not cover the item's value. 

Adding high-value item shipping insurance can offer additional protection from damage or loss during transit. Accidents happen, even when care is taken to wrap and protect fragile items. Delicate and small items like jewelry are especially vulnerable. 

customer receiving damaged package


There is a lot of coordination involved in shipping high-value items, and real-time information is vital. You need to know if there is a volatile situation happening in the shipping destination before sending your high-value item. If there is political instability or a weather-related catastrophe affecting transit, that is important to know before the shipment leaves the facility. Real-time tracking is vital, as well. You need to know where your package is at all times if it is delayed and when the recipient signs for it. 

Cabrella can provide eCommerce shipping solutions while integrating with any shipping partner to solve specific problems through its unique API. 


What Happens If I Need to Ship High-Value Items Internationally?

Traditionally, when shipping high-value items like jewelry, you've been limited to policies that only covered the US and Canada. However, this limitation is challenging in today's global world, where customers exist in every corner of the map. Jewelry shipping insurance has not kept up in many cases, but Cabrella offers high-value item insurance shipping to 182 countries. Cabrella knows your customers and suppliers are located around the world and makes international shipping easy. 

Adding additional coverage through Cabrella can also protect against risks excluded by the average policy, like catastrophic weather. 

International shipping

What Coverage is Available for Shipping High-Value Items?

Carriers often offer their package policy, such as the policy provided by FedEx – the FedEx Jewelry Shipping Program's Declared Value Advantage policy. This offers up to $100,000 in additional coverage within the US and 58 countries to qualifying FedEx customers. When shipping through UPS, different rules apply. For example, UPS does not allow loose cut or uncut gemstones to be sent, and they only ship packages valued at $50,000 or less. If not part of these special programs, coverage for jewelry as a commodity is often excluded altogether.

USPS guarantees insurance for packages that are lost or sustain damages up to $5000, depending on the service used.  Additional coverage of up to $50,000 may be available for registered mail. Many jewelry block policies only allow the use of USPS, so having different options for coverage may be necessary if businesses want to insure shipments with FedEx & UPS for clients with a specific preference.

Cabrella's lock box

Cabrella offers coverage of up to $150,000 per package. You can add this to your existing jewelry block policy to insure that what is not covered by the basic policy, such as alternative carriers, international shipments, or shipments to specific zip codes, will be covered. For example, many jeweler's block policies have limitations on the number of shipments that can be sent to a single address in a single day - Cabrella can help fill this gap. With Cabrella, you can feel at ease  knowing that if there is a covered claim, the payment will be made on replacement cost or invoice value as opposed to cost - which is most often the case with a Jeweler's Block policy.

Cabrella also offers another line of protection when shipping high-value items, like jewelry, that many others don't. With our specially designed lock boxes, valuables are kept safe and secure by preventing the likelihood of pilferage. Beyond that, Cabrella technology includes a smart tracking system, which notifies clients of any delays a package has encountered, allowing users to get ahead of potential losses.

Coverage is available for the listed cost of the insured item as well as postage costs. A Cabrella parcel policy covers high-value items for losses, damages, and shortages incurred during transit. 


How to Compare High-Value Item Shipping Insurance

Jewelry shipping insurance is complicated, and it can be challenging to find decent rates for specialty insurance. Relying on experts like Cabrella can help. You can compare rates and see how you can save money by requesting a quote online


Final Thoughts 

Shipping high-value items can be challenging. It is risky to rely only on carrier plans' protection, like FedEx or UPS, as those plans tend to have less coverage and more restrictions. Further, carrier claims processes can be difficult and lengthy so having a specialist that knows the ins and outs of jewelry shipping can prove to be extremely helpful. Jewelry shipping insurance is smart protection for shipping high-value items, particularly outside the US and Canada. Knowing how much coverage to purchase, how best to package your high-value items, and which shipper to use requires special expertise. 

Cabrella can help you save money on shipping costs by offering low-cost and high-quality high-value item insurance and shipping services. To learn more about the need for jewelry shipping insurance and high-value item insurance, contact the experts at Cabrella or call 844.422.2735. Our team will be happy to answer any questions you have. 

Tags: #jewelry, Shipping Insurance

Subscribe to Email Updates