FAQs for Shipping Losses and Insurance Claims
Effective: November 18, 2024
1. Why is Delaware Depository providing detailed guidelines on shipping losses and insurance claims?
In light of an increase in package thefts, Delaware Depository recognizes the importance of keeping you informed and prepared. Our detailed guidelines are designed to help you promptly and accurately report an issue with a shipment if it is lost, stolen, or damaged by the courier.
2. Who do these Shipping FAQs apply to?
These Shipping FAQs apply to customers whose packages are insured under Delaware Depository’s shipping insurance policy, i.e., no Third-Party Shipping. For sake of clarity, whenever a customer provides its/their own courier account number(s) (such as a UPS or FedEx account number), this will be treated as Third-Party Shipping, and the customer will be the shipper of record on all claims with the courier and insurance companies, and, by extension, Delaware Depository will not be responsible for any lost, stolen, or damaged package(s). For any questions with respect to whether your packages are insured under Delaware Depository’s shipping policy, please contact OpsAdmin@DelawareDepository.com.
3. What should I do if upon delivery, a package is in a damaged condition or appears tampered with?
You, as the recipient of the package, should reject and not sign for a damaged package with visible tears, any opening in the outer packaging, multiple shipping labels affixed to the package, or if there is a noticeable weight discrepancy between the weight of the package and the weight listed on the shipping label. If the package is already accepted and signed for, and damage to the packaging is later observed, the customer should report this to Delaware Depository promptly (see FAQ # 5 below) and should take photos of the damaged package (see FAQ # 6 below)
4. Should I take a video of my unboxing of the package?
While this is not mandatory, video evidence of the unboxing process can be valuable in supporting claims related to damaged or incomplete shipments. If there is video evidence, please report that to Delaware Depository promptly by email to CustomerCare@DelawareDepository.com and they will provide the link to a secure portal enabling you to submit the video evidence.
5. When should I report a lost, stolen, or damaged package?
Prompt reporting is crucial as a lost shipment claim will be denied if Delaware Depository does not submit a claim within 30 calendar days of the date of shipment. Timely reporting is essential for two reasons: (1) it enables us to initiate a prompt investigation; and (2) it is a requirement of our insurance policy for claim eligibility. Claims submitted in an untimely manner are automatically denied.
6. What information do I need to provide when reporting a lost or stolen package?
Please attach to the email the shipping instructions originally submitted to Delaware Depository and the courier tracking number. If package(s) were received, please submit photos of the package(s) from the points of view illustrated in the upload prompt boxes depicted on the following page. Also, it is crucial that you keep all packaging material and have such packaging available for inspection. Failure to keep packaging material may result in denial of a claim based, in part, on loss of that evidence and the resulting negative impact on the insurer’s ability to investigate the claim.
7. What happens after I report a lost or stolen package?
After you report a transit loss, Delaware Depository will ask the courier to conduct an investigation. If theft or loss is confirmed, the loss replacement process will begin. The investigation process is conducted exclusively by the courier. Delaware Depository does not have authority or control over the courier’s investigation. The investigation process may take a few weeks or up to several months, depending on the courier. Delaware Depository will not be responsible to investigate a claim of loss or theft if the tracking information shows that the package was signed for and delivered to the recipient’s address. In that situation, it is suggested that such loss be reported to the local police, and that an inquiry be made into whether the loss is covered under a homeowner’s or renter’s policy and other measures should be taken to address possible theft occurring on his or her property.
8. What happens after I report damage to contents of a package?
The customer must send the damaged product(s) back to Delaware Depository upon his or her receipt of a prepaid return label sent to him or her by Delaware Depository. The customer must use the prepaid label provided by Delaware Depository or else the package(s) will not be insured by Delaware Depository. Upon inspection and verification of such damage, either replacement coin(s) and/or bar(s) will be shipped to the recipient or insurance proceeds will be paid to the customer (see FAQ # 7 and 8 below). This replacement process does not apply to Bullion coin(s) and/or bar(s) that were identified as damaged when they were originally deposited with Delaware Depository. Also, this replacement process does not apply to out-shipments from a segregated storage account unless the outer and inner packaging is proven to have been significantly damaged in transit.
9. What is covered under Delaware Depository’s insurance policy for lost, stolen, or damaged packages?
Our insurance policy covers up to $100,000 per package. Delaware Depository may, in its sole discretion, replace in-kind the lost or damaged product with the same quantity and type of bullion product (or, alternatively, replace by providing a suitable equivalent as agreed upon between Delaware Depository and customer). In all other instances, Delaware Depository will pay to the customer a dollar amount calculated by reference to the New York spot price of the metal at the close of trading on the second business day following the date of loss without regard to premiums, rarity, mintage, condition, etc. If a customer wants to insure packages using a different methodology for replacing them, then it is advisable for the customer to obtain additional or separate insurance for the package independent of Delaware Depository.
10. Is a package recipient required to file a police report or affidavit to support a transit loss claim?
In Delaware Depository’s discretion, a package recipient may be required to file a police report or sign an affidavit in support of a transit loss claim. This depends on the facts and circumstances of the loss, including suspected fraud, repeated claims of loss by the same recipient or household members, and other situations where a police report or signed affidavit can aid in an investigation or shipping claim. Delaware Depository will evaluate each case individually to determine if a police report is necessary for the claims process. If an affidavit is required, Delaware Depository will provide the form to sign. Failure to submit a police report or signed affidavit may result in a denial of a claim.
11. What happens if a lost or stolen shipment is found?
If the lost or stolen item is later recovered, it will become the property of Delaware Depository. The recipient is responsible for returning any items to Delaware Depository if they receive a replacement in-kind, insurance proceeds are paid, or is otherwise made whole by a third party in relation to the original loss. Delaware Depository reserves all rights and remedies against recipients and customers who refuse to comply with a request from Delaware Depository in the context of this paragraph.
12. Where do I find the tracking numbers associated with my packages?
Tracking numbers can be found online in the Delaware Depository portal or on the Product Register report. Delaware Depository can also provide you with a tracking number via email request to OpsAdmin@DelawareDepository.com.
13. How can I stay updated and/or submit additional documentation regarding lost, stolen, or damaged packages?
Once a claim is reported, you can send an email to LostShipments@DelawareDepository.com to stay updated on the status of the claim. Delaware Depository is committed to keeping you updated and reviewing additional information that it receives in relation to a transit loss.
Thank you for reviewing these Frequently Asked Questions on Shipping Losses and Insurance Claims. The trust and confidence of you and your customers is our highest priority.
