If you had a successful claim above their standard liability amount you were lucky, and probably a rarity as well.
http://www.vendio.com/mesg/read.html?num=2&thread=574684&id=574684
This guy wasn't lucky, I just did a quick Google search, there are many more stories like his to be found.
Another one:
http://www.ibook-user.com/reports/2001/fedex-ibook.html
More insight:
http://www.collectorsindex.com/order2.htm
Edit, added this one:
http://www.boston.com/business/globe/articles/2003/12/28/fed_up_with_fedex_over_package_coverage/
Fed-Ex has the policies written in a way to screw the customer if they so choose. It is usually too late when somebody finds out what the fine print really says. I choose not to take that risk after researching the matter.
Like what you posted for example. You seem to have left out some key parts of their policy. Here they are, notice the reference to insurance, or lack of it:
From:
http://www.fedex.com/us/services/us/2day.html?link=4
Then click on terms and conditions on the right, then number 11 for "Declared Value and Limits of Liability (Not Insurance Coverage)."
Declared Value and Limits of Liability
(Not Insurance Coverage)
1. The declared value of any package represents our maximum liability in connection with a shipment of that package, including, but not limited to, any loss, damage, delay, misdelivery, nondelivery, misinformation, any failure to provide information, or misdelivery of information relating to the shipment. It is the shipper's responsibility to prove actual damages. Exposure to and risk of any loss in excess of the declared value is assumed by the shipper. You may transfer this risk to an insurance carrier of your choice through the purchase of an insurance policy. Contact an insurance agent or broker if you desire insurance coverage.
WE DO NOT PROVIDE INSURANCE COVERAGE OF ANY KIND.
2. With respect to U.S. express package services, unless a higher value is declared and paid for, our liability for each package is limited to US$100. For each package exceeding US$100 in declared value, an additional amount will be charged. See Rates in the FedEx Service Guide for details.
3. With respect to FedEx Express Freight services, unless a higher value is declared and paid for, our liability for each piece (single handling unit) is limited to US$100 or US$1 per pound, whichever is greater. When the declared value exceeds the greater of US$100 or US$1 per pound per shipment, an additional amount will be charged for each US$100 (or fraction thereof) of additional declared value. See Rates in the FedEx Service Guide for details.
4. Except as limited below, the maximum declared value per package in any FedEx First Overnight, FedEx Priority Overnight, FedEx Standard Overnight, FedEx 2Day or FedEx Express Saver shipment is US$50,000. The maximum declared value per shipment for FedEx SameDay is US$2,000.
5. Except as limited below, the maximum declared value per piece (single handling unit) in any FedEx 1Day Freight, FedEx 2Day Freight or FedEx 3Day Freight shipment is US$50,000.
6. Shipments (packages or freight) containing all or part of the following items are limited to a maximum declared value of US$500:
1. Artwork, including any work created or developed by the application of skill, taste or creative talent for sale, display or collection. This includes, but is not limited to, items (and their parts) such as paintings, drawings, vases, tapestries, limited-edition prints, fine art, statuary, sculpture, collectors' items, and customized or personalized musical instruments.
2. Film, photographic images (including photographic negatives), photographic chromes and photographic slides.
3. Any commodity that by its inherent nature is particularly susceptible to damage or the market value of which is particularly variable or difficult to ascertain.
4. Antiques, or any commodity that exhibits the style or fashion of a past era and whose history, age or rarity contributes to its value. These items include, but are not limited to, furniture, tableware and glassware.
5. Glassware, including, but not limited to, signs, mirrors, ceramics, porcelains, china, crystal, glass, framed glass, and any other commodity with similarly fragile qualities.
6. Plasma screens and flat-panel display screens (all types).
7. Jewelry, including, but not limited to, costume jewelry, watches and their parts, mount gems or stones (precious or semiprecious), industrial diamonds, and jewelry made of precious metal.
8. Furs, including, but not limited to, fur clothing, fur-trimmed clothing and fur pelts.
9. Precious metals, including, but not limited to, gold and silver bullion or dust, precipitates, or platinum (except as an integral part of electronic machinery).
10. Stocks, bonds, cash letters or cash equivalents, including, but not limited to, food stamps, postage stamps (not collectible), traveler's checks, lottery tickets, money orders, gift cards and gift certificates, prepaid calling cards (excluding those that require a code for activation), bond coupons, and bearer bonds.
11. Ostrich and emu eggs.
12. Collector's items such as sports cards, souvenirs and memorabilia. (Collector's coins and stamps may not be shipped. See the Prohibited Items section.)
13. Guitars and other musical instruments that are more than 20 years old.
7. The maximum declared value for the contents of any FedEx Envelope, FedEx Sleeve or FedEx Pak is US$500. Goods with a value (actual or declared) exceeding US$500 should not be shipped in a FedEx Envelope, FedEx Sleeve or FedEx Pak. (This limitation does not apply to items shipped utilizing the FedEx Large or Small Clinical Pak.)
8. When the shipper sends more than one package on an airbill, the total declared value for all the packages moving on the airbill must be written in the appropriate section of the airbill. Our liability will be limited to the total declared value (not to exceed the per-package limit of US$500 or US$50,000 or the per-shipment limit of US$2,000, as described in this section). The declared value for each package will be determined by dividing the total declared value by the number of packages on the airbill unless you provide verifiable evidence supporting a different allocation.
9. If a multiple-piece shipment is tendered to FedEx skidded and shrinkwrapped as one single handling unit, the maximum declared value for that single unit is US$50,000 and not US$50,000 per package contained within that multiple-piece shipment.
10. The maximum declared value we offer for shipments tendered to FedEx using FedEx Stamps purchased from anyone other than FedEx is US$100.
11. The maximum declared value for FedEx Print Return Label and FedEx E-Mail Return Label shipments is $1,000 for FedEx First Overnight, FedEx Priority Overnight, FedEx Standard Overnight and FedEx 2Day, and $50,000 for FedEx 2Day Freight and FedEx 3Day Freight. The maximum declared value for FedEx ExpressTag shipments is $50,000. We are not liable for any damage to a shipment or any claim arising out of the use of a return option unless the shipment was lost during delivery or there was visible damage noted by the FedEx courier at the time of delivery. We are not liable for any concealed damage to items returned using FedEx Print Return Label, FedEx E-Mail Return Label, FedEx ExpressTag or FedEx Stamps. Receipt of the shipment by the recipient without notice of damage on delivery is prima facie evidence that the shipment was delivered in good condition. Our liability for any loss or damage will not exceed the actual amount of the damage or the declared-value amount, whichever is lower. All other terms and conditions related to FedEx Express claims regulations apply for shipments sent via a FedEx return option.
12. ANY EFFORT TO DECLARE A VALUE IN EXCESS OF THE MAXIMUMS ALLOWED IN THE FEDEX SERVICE GUIDE IS NULL AND VOID. OUR ACCEPTANCE OF ANY SHIPMENT BEARING A DECLARED VALUE IN EXCESS OF THE ALLOWED MAXIMUMS DOES NOT CONSTITUTE A WAIVER OF ANY PROVISION OF THE FEDEX SERVICE GUIDE AS TO SUCH SHIPMENT.
13. REGARDLESS OF THE DECLARED VALUE OF A PACKAGE, OUR LIABILITY FOR LOSS, DAMAGE, DELAY, MISDELIVERY, NONDELIVERY, MISINFORMATION, ANY FAILURE TO PROVIDE INFORMATION, OR MISDELIVERY OF INFORMATION, WILL NOT EXCEED A SHIPMENT'S REPAIR COST, ITS DEPRECIATED VALUE OR ITS REPLACEMENT COST, WHICHEVER IS LESS.
14. The shipper is responsible for accurately completing the airbill or other shipping documents, including completion of the declared-value section. We cannot honor requests to change the declared-value information on the airbill.
15. See the Liabilities Not Assumed section for other limitations and exclusions on our liability.
16. Additional restrictions may apply to a shipment if sent pursuant to an airline interline agreement
