Declared Value
Pricing
The dollar value a shipper states for their freight, used to set carrier liability or purchase full-value coverage.
Detailed Explanation
Declaring a value doesn't automatically insure the freight — without added coverage, the carrier's tariff still limits what a claim pays (often a per-pound amount far below the declared figure). Declaring the value is the first step to closing that gap: it defines the amount full-value coverage protects and what a claim can recover.
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Cargo InsuranceInsurance that covers loss or damage to goods during transit. Distinct from carrier liability, which is the carrier's tariff-limited responsibility (often a per-pound amount far below the cargo's value); cargo insurance protects the declared value of the goods themselves.Freight ClassA standardized classification system (classes 50-500) used to categorize LTL freight based on density, stowability, handling, and liability.Released ValueThe reduced per-pound liability a carrier's tariff assigns to freight in exchange for the base rate — the default when no higher value is declared or insured.