What does Basic Insurance 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.
The Insurance Premium payable for cover is calculated as 3.5% of the ‘replacement value’ of the inventoried items in the shipment. The ‘replacement value’ is the value that it would cost to repurchase the items that have been lost.