Hi, am shipping my bike from the West Coast of the US to China. For the several weeks while my bike will be in the container, have been quoted a rate of 1.5% of stated value for insurance coverage.
This works out to be the same, if not more expensive, than my full coverage insurance while I am out on the road, which includes third-party liability coverage, etc. Given that the bike does not seem exposed to as much risk while sitting in a supposedly secure container, this price seems quite high to me.
Anyone have any experience with these rates? Is this kind of insurance necessary in the first place? If the quoted rate accurately reflects the degree of risk involved (and not just inflated profit for the insurer), I guess I should be worried enough to get insurance?