Insurance Options

The information and services described on this page and offered to you on our platform are subject to Jetpack's Terms of Service which are incorporated herein by reference. The cost of insurance for parcel shipments is calculated at 1.875% of your total chosen value to be insured, combined with the shipment's fulfillment cost, which is shown as the total shipment invoice (see calculation example below). 

For the avoidance of doubt, Jetpack is not an insurance company or a licensed insurance agent and does not assume any liability or risk associated with the purchase or sale of insurance. Upon request, Jetpack may provide you with the opportunity to protect your eligible shipments of goods under an insurance policy that is issued to Jetpack's partners (the “Policy”) by Cabrella Parcel Insurance.

To the extent you elect to add insurance to protect your eligible shipments of goods, you must provide specific information regarding the shipment to Jetpack in accordance with our instructions and the documentation made available to you from time to time on a shipment-by-shipment basis. Although coverage under such policy of insurance may be extended to your shipments,  the policy is not intended to and does not provide insurance directly to you. You are neither an insured nor an additional insured under the policy, but in the event of a loss covered under the policy, any resulting claim payment may be directed to you as a loss payee and only to the extent of your interest in the protected shipment. The Policy under which shipments are insured for physical loss and/or damage in the course of transit is subject to conditions, limitations, and exclusions. Jetpack and its partners, in its sole discretion, reserves the right to decline certain shipments.  

Continue on for more details about how Jetpack's insurance options work.

Parcel Insurance Additional Notes:

  • The insured value of any parcel must not exceed the actual value of the goods being shipped, nor can it exceed $5,000 USD per parcel.
    • Jetpack is not liable for any claims where the declared insured value exceeds either the actual value of the goods or $5,000 USD per parcel.  
      • In the event of over-insurance, Jetpack reserves the right to adjust or deny insurance coverage accordingly.
    • For example, if you add an insurance value of $20,000 to an order that was split into 4 parcel shipments, Jetpack will allocate up to $5,000 of insurance per parcel.  
      • Using the same example, if the shipment is split into only 3 parcels, each parcel will only be insured for a maximum of $5,000.  
      • This means that the total insured value would be $15,000 across the three parcels, and you may be unable to claim the full actual value of the goods.
  • Orders can be split into multiple shipments from a single fulfillment center if all of the products do not fit into a single package (from either Jetpack's standard packaging or the custom packaging you provided).  
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    • If an order is split into multiple shipments when packed in the fulfillment center, the insurance value will remain on the original order in the Jetpack dashboard, but the insurance amount will still apply to all packages that make up the order.
    • For example, if you submitted an order in the Jetpack dashboard, added USD $5,000 worth of insurance to the order, and the order was later split into 4 shipments, the USD $5,000 worth of insurance will appear on the original order details page yet apply to all 4 shipments if you need to file a claim for lost or damaged in transit.  
  • Jetpack cannot facilitate the procurement of coverage for prepaid parcel shipments.
  • Insurance values added for these order types will be considered void. 
  • Purchasing insurance for your DTC/B2C order voids Jetpack's courtesy insurance (i.e., you will need to pay insurance on the entire shipment amount, not just the amount after the initial retail value covered of USD $100).  
  • The insurance value you request will always be in USD, regardless of your Jetpack dashboard’s local currency setting.  
    • For example, if you select $500 of insurance, then Jetpack will facilitate that amount of coverage under the Policy with Cabrella Parcel Insurance for your order.
    • If you operate in a different currency, we recommend converting your desired insurance amount from the local currency to USD. 
  • If the insurance value for an order is USD $300 or greater (which is roughly AUD $417.08, CAD $300, ERO €300, or GBP £221.14 at the time this article was written), then a requirement of a signature upon delivery will automatically be applied to the order.  
  • Pricing for signatures upon delivery varies by carrier and can be located here.  

The example below assumes you purchased insurance, insuring a product value of USD $500, for your customer’s order, and the fulfillment cost to ship the order was USD $15.20.

Freight Shipment Insurance Overview & Pricing 

The cost of insurance for freight shipments varies by 1-2% of the value indicated, combined with the shipment's fulfillment cost, which is shown as the total shipment invoice (see calculation example below).  

Freight insurance additional notes:  

  • The insured value of any pallet must not exceed the actual value of the goods being shipped.
    • Jetpack is not liable for any claims where the declared insured value exceeds the actual value of the goods.  
    • In the event of over-insurance, Jetpack reserves the right to adjust or deny insurance coverage accordingly.
  • Orders can be split into multiple shipments from a single fulfillment center if all of the products do not fit into a single package (from either Jetpack's standard packaging or the custom packaging you provided).  
    • If an order is split into multiple shipments when packed in the fulfillment center, the insurance value will remain on the original order in the Jetpack dashboard, but the insurance amount will still apply to all packages that make up the order.
    • For example, if you submitted an order in the Jetpack dashboard, added USD $5,000 worth of insurance to the order, and the order was later split into 4 shipments, the USD $5,000 worth of insurance will appear on the original order details page yet apply to all 4 shipments if you need to file a claim for lost or damaged in transit.  
  • Jetpack cannot facilitate the procurement of coverage under the Policy with Cabrella Parcel Insurance for self-arranged freight shipments.
    • Insurance values added for these order types will be considered void. 
  • Purchasing insurance for your order voids Jetpack's courtesy insurance (i.e., you will need to pay insurance on the entire shipment amount, not just the amount after the initial manufacturing value covered of USD $500).    
  • Freight insurance varies by 1-2% since it depends on the freight forwarder selected. 
    • If you select to purchase additional insurance for a Jetpack-arranged freight shipment, the order’s invoice will display the total you paid to ship and insure the order.  
  • The insurance value you request will always be in USD, regardless of your Jetpack dashboard’s local currency setting.  
    • For example, if you select $500 of insurance, then Jetpack will facilitate that amount of coverage for your order.
    • If you operate in a different currency, we recommend converting your desired insurance amount from the local currency to USD.  
  • Jetpack-arranged freight supports cross-border freight for shipments originating from the US and Canada.  
    • This means that Jetpack can help you arrange a freight shipment for orders traveling from a US Jetpack fulfillment center to another US or Canada destination or from a Canadian Jetpack fulfillment center to another Canada or US destination.  
    • For orders originating from Canada, you must have your own customs broker.  

The example below assumes you purchased insurance, insuring a product value of USD $1,000, for your customer’s order, the fulfillment cost to ship the order was USD $200, and the carrier charged 1.90%. 

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