How to insure valuables articles sent by post 



Insurance covers all risks in course of transmission of articles like registered letters or parcels by post 

While sending valuable articles through post such as registered letters or parcels, it’s always a concern that these articles should reach the receiver properly. Everyone’s got a story about a damaged item they’ve received in the mail. However, you can protect yourself from this concern by purchasing insurance for valuables you choose to send in the mail. It’s a straight-forward process and will help ease your worries over sending valuable items.

Insurance

Articles may be insured at all post offices. Insurance covers all risks in course of transmission by post. The prepayment of all charges on insured articles—namely postage, registration and insurance fee—is compulsory. Postage stamps affixed on an insured article must be placed apart from one another so that they may not damage the cover of the letter/parcel.

Insured envelope

What article can be insured?

Limit up to which you can insure

Registered letters

Up to Rs. 600 at branch post offices

Value payable registered letters

Up to Rs. 1 lakh in other post offices

Registered parcels

Insured value shall not exceed the real value of the contents of the article insured

Value-payable registered parcels

Gold bars, precious stones or bank notes shall be insured for the actual value of the contents

Cases in which insurance is compulsory

Insurance is compulsory for at least the amount specified for recovery from the addressee in the case of all value payable articles on which the amount specified for recovery exceeds Rs. 100. (Other than value payable letters containing railway receipt, bills invoices, documents, etc of no intrinsic value and value payable packets containing printed papers, books, etc sent under book packet rates.) 

Coin, bullion, platinum, precious stones, jewellery, government currency notes or bank notes and articles of gold or silver may be sent by post only in insured letters, insured parcels.

Packing size & other conditions

Every letter tendered for insurance must be enclosed in a strong cover which must be sealed by identical seals in fine wax reproducing a private mark and affixed in sufficient number so that it cannot be opened without either breaking the seal or leaving obvious traces of violation.

An envelope with black, coloured border or a transparent sheet must not be used. The seals must be placed over each seam of the cover. If a parcel contains gold, silver bullion or coins it must be packed in a strong case of wood or metal with an outer covering of cloth or thick paper.

All the seals affixed to an insured article must be of the same kind of wax and must bear distinct impressions of the same private device. It is recommended that registration envelopes (sold at all post offices) be used for insured letters.

Insurance procedure

An article intended for insurance must be presented at the post office. Write clearly in words & figures, the insurance value without any overwriting or correction, on the top of the address side of the cover. The name and address of the sender must also be written on the cover in the lower left-hand corner, or on a slip of paper—to be presented with the article.

A receipt will be given to the person who presents an article for insurance at the post office. Any error should be pointed out at once by the sender otherwise the post office will not be liable for any damages or compensation.

Responsibility of the post office

Compensation will be payable one month after the date on which intimation of loss is given by the sender to the post office, except in cases in which the head of the Circle may consider that the circumstances demand the withholding of payment pending enquiry.

In the event of the loss or damage of the postal article in course of transmission by post the compensation will be paid to the sender and the compensation in no case exceeds the value of the article or the amount of the damage caused.

In the case of loss, the sender furnishes full particulars of the contents of the postal article and their values.   

No compensation will be payable

Where there has been mis-delivery arising out of incorrectness / incompleteness of the address written by the sender.

Where there has been fraud on the part of the sender.

Where the sender has not given intimation of the loss in three months from the date of posting.

Where the loss / damage was due to improper packing.

Where the insured article contains government currency notes, gold coin or any combination of these, and has not been insured for the actual value of the contents.

In the case of damage arising from the nature of the article insured.

Where the insured article contained anything, the transmission of which is prohibited by post.

Source: India Post



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