Declared value coverage is a type of insurance coverage that allows the insured party to specify the value of their goods being shipped or transported. This type of coverage is typically used when the value of the goods being shipped exceeds the limits of standard insurance coverage, or when the insured party wants to ensure that they are adequately compensated in the event of loss or damage to the goods. With declared value coverage, the insured party declares the value of their goods and pays an additional premium to cover the declared value. In the event of loss or damage to the goods, the insurer will compensate the insured party up to the declared value, subject to the terms and conditions of the insurance policy.

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