Studies show that 1 in 10 packages delivered by major carriers are damaged or otherwise harmed in transit.
Worry not, shipping insurance can help you navigate these situations without sacrificing your ability to provide strong customer service.
While buying insurance may seem like an unnecessary cost before shipping your goods, you’ll be thankful for it when a large shipment is damaged or expensive freight is lost.
Carriers offer shipping insurance, each employing their own policies and protocols. Companies should familiarize themselves with the policies of major carriers and third-party insurance providers to find the shipping insurance that covers needs at the lowest possible cost.
This article will examine coverage options offered by large carriers and third parties while providing insight into the claims process. That way, you’ll be best positioned to get the most out of your shipping insurance.
Understand What’s Covered
Shipping insurance should be a part of how you choose a carrier that’s right for your company.
All carriers offer their own unique policies for shipping insurance, covering some small shipments at no extra charge or excluding some types of freight from any coverage at all.
Understanding these differences will enable you to choose the insurance provider that best suits your company’s shipping operations.
As shown below, USPS, FedEx, UPS, and DHL all have their own individual costs, automatic coverage offerings, and value limits for their shipping insurance options.