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Knowledgebase
What is shipping insurance?

Article ID: 000083
Rating: 5.0 / 5.0 (3 votes)
Views: 1596

Shipping insurance is a form of guarantee that the shipment will be compensated in the event that your customer did not received the shipment. As most shipment is covered with less than US$100, it is important for you to purchase this insurance to prevent lost shipment. With this insurance, we will either replace or compensate you in the event of lost in transit for your shipment.

With effective from 1 Mar 2008, you can now purchase shipping insurance while declaring low value for all shipment, thus minimizing the custom/import duty on your shipments. Please refer below for details:

  •  You can purchase the full shipping insurance at 2.5% while declaring the amount at any value. In case of lost shipment, you can claim for the full value as per the amount insured. The shipping insurance option is available on all products option when you place the order on our website.
  • We no longer offer import tax insurance for all region, thus by ordering shipping insurance while declaring it at low value, this will be a form of tax insurance which you can minimise on custom/import duty while securing your shipment. This would be most beneficial for shipment to EU or any other countries which you need to pay high import duty as well as any bulk shipment that is of high value.
  • Please include the amount you wish to declare in the order note column when placing orders so that we can handle the shipment accordingly. If you did not indicate any declared amount in the order note, we shall assume that you wish to declare the amount in full as per the insured value.
  • Countries that is covered under our shipping insurance include Australia, NZ, US, UK, Europe, India & China. We reserve the rights to reject the shipping insurance for selected high risk countries such as Africa, Indonesia and etc as it is subject to the approval of insurance company on each order basis. In case of rejection by the insurance company, we will notify you via email and refund you the shipping insurance amount accordingly.
  • There is no limit on the maximum amount that you could insured while declaring the shipment at low value. For eg, you ordered USD5000 worth of product but only wish to declare USD2000, you can do so by selecting the shipping insurance option and indicate the declared value in the order note column.
  • Countries that is covered under our shipping insurance include Australia, NZ, US, UK, Europe, India & China. We reserve the rights to reject the shipping insurance for selected high risk countries such as Africa, Indonesia and etc as it is subject to the approval of insurance company on each order basis. In case of rejection by the insurance company, we will notify you via email and refund you the shipping insurance amount accordingly. 

 


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