New insurance scheme at myHermes

Delivery company myHermes has revised its parcel insurance scheme to enable senders to save money on insuring packages sent through their system. This will apply to sole traders, SME retailers and consumers, who can better control how they protect their items.

In addition myHermes has also revised its list of excluded items, allowing wider range of items to be sent through the network.

Firstly the company has increased the maximum cover limit from £250 to £300, and it has introduced a new model that will enable senders to pay an insurance fee that relates to the value being sent. Previously they were charged £2.20 for items between £25 and £100, and £5.80 for products of value between £100 and £250.

In practice myHermes say that this will mean that an item with a value of £50 will cost £1.50 to insure instead of £2.20, while a package with a value of £120 will cost £3.30 instead of £5.80. The company will continue to offer free insurance on items of value lower than £25.

Items that were previously barred from being sent that are now permitted now include: electrical goods, jewellery, vehicle parts (though still excluded is anything made of or containing glass) and domestic goods (minus liquid). In addition non degradable food and flat packed furniture will be allowed to be sent through the network.

Claire Phelan, Head of Commercial Development at myHermes, said: “The changes to the cover scheme will give consumers the confidence to send higher value items whilst also making significant cost savings.

“Also, by expanding the number of items that can be shipped via our network, we hope more businesses can now grow their own product ranges, leading to increased revenue and sustained growth. Meanwhile, we have also built a loyal customer base who regularly use the myHermes network to safely ship packages to loved ones. This move will allow them to send a greater variety of goods, which will prove really useful when shopping for Christmas or birthday presents.”

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