Help with FedEx claim......What would YOU do?

Onc thing to keep in mind when insuring equipment with UPS and FED EX, even thought you can insure item for $10,000, if the fair market value is only $2,000 they will only payout the fair market value.

Paulg805, your comments regarding fair market value are incorrect. They will pay out whatever you insured it for so long as you have some type of proof that the unit originally sold for that amount or more. I have been through this over a dozen times and know this from experience. Sean
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Thanks to all for comments. I worked for an insurance company for 15 years, I do not over insure, I only insure for the value sold. That, is the market value. Often I am asked to insure for more, and I have to explain that is not possible with me.

I sold a McIntosh amp, MC-352, it lists for $4,500, it was in perfect shape, it was sold for $3,000, and was actually worth about $3,300 at that time. I was sent the broken amp back, the the entire faceplate section was ripped off. Not sure how it happened?

I took it to the largest McIntosh dealer in the world, got an estimate for replacement (new is $4,500 list). Since a large part of McIntosh is appearance, yeah, they sound good too, my angle was that although it could be repaired ($700)
some of the dents/dings, albeit minor, reduce the value and make it useless.

FedEx agreed to pay the claim in full, requested the package back, and that is when it started. "We understand you wrote $3,000 on the tag, but you were only charged for $2,000 insurance." I think I will do the small claims court deal.

ps
I still have the amp.

Get the loot back FEDEX just like the UPS and the US Postal Service charges you for insurance and therefore they are responsible for the whole amount of the value you requested.If the paperwork states 3000.00 of insurance then thats what they have to pay..PERIOD..Good luck and cheers.Steve

Listen to Ejlif's advice regarding small claims court. For a measly grand they will either pay-up or not show up, giving you a default judgement. If they did show, you have an excellent chance of prevailing if you have some type of paperwork (not necessarily the receipt)indicating that you requested insurance in the amount of $3,000. Common sense tends to prevail in a small claims venue. Under the circumstances, however, I doubt that you'll have to go to the mat with them, though. Best of luck.

P.S. Although I have never had problems having insurance claims paid, due to the rash of posts here and at AA, I think I will shoot a few digital photos before, during and after packing. A little extra insurance (or credibility) can't hurt.