After filing a FedEx claim for a damaged antique I recently sold, I learned some important information about the "insurance" value that can be claimed for an item damaged by FedEx in shipment. This definitely applies to our VINTAGE BICYCLES, so anyone who uses FedEx to ship bikes should please read this, and/or thoroughly read and understand the Fed/Ex shipping limitations regarding declared value.
FedEx Ground shipping is limited to a maximum claim liability of $100.00, regardless of the declared value stated on the shipping record. The typically higher cost FedEx Express shipping allows for a greater maximum claim liability of $500.00 for shipping damage, regardless of the declared value. These limitations are enforced against items defined as antique, vintage, or collectable. Please note that they do not adhere to the technical definition of an antique as being an item that is 100 years of age or older. FedEx also made it clear that they do not "insure" the items shipped through them, and they suggest seeking and purchasing insurance elsewhere for valuable antique/vintage items that fall outside their declared value limitations and exclusions.
So for example, you ship a bike made in the 1960s or 1970s via FedEx ground with a declared value of $750.00, and it is damaged by FedEx in the shipment process, you will only recover $100.00 for the damage, and suffer a $650.00 loss. The loss would be $250.00 if the same bike was shipped via the FedEx Express service. I could not determine the age cutoff that FedEx uses to define vintage in the limitation, but they stated they would pay for the declared value for a "new" bike damaged in shipment.
While I have been a fan of using FedEx for shipping bikes and heavier large antique items, I did not fully understand their claim limitations for the various shipping methods, and would have suffered greater financial loss if more of the shipped items were damaged in transit. I have incorrectly assumed that the declared value is the amount that would be reimbursed for an item damaged in shipment by FedEx, and fortunately have not experienced any damage resulting via a FedEx Ground shipment to date (knock-on-wood).
Again, just wanted to make everyone aware of this prior to using FedEx for a valuable vintage bicycle shipment. This information is provided as I understood it from my conversation with FedEx representatives this morning, and is intended for informational purposes only. I strongly recommend that you read and discuss any questions that you may have with FedEx prior to shipping.
Regards, Kevin Kruger - Grantville, PA
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