Frequently asked questions on Shipping Insurance
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Frequently asked questions on Shipping Insurance
Despite advancements in technology and services, there is still a possibility for your package to get lost or damaged in transit. This means that your eCommerce business may run into unexpected costs, affecting your budget. To protect yourself from unpredictable costs, it is a good idea to consider purchasing shipping insurance.
What is shipping insurance?
Shipping insurance is a policy that can be purchased by a shipper to cover the costs of loss or damage in transit. Most leading couriers, such as. FedEx, UPS, and DHL cover up to a certain value on goods damaged or lost in transit.
With a high demand for fulfilling consumers’ demands, it makes sense to purchase insurance for shipping that gives you the peace of mind that you require.
SFL Worldwide offers insurance options for our users shipping their packages to domestic and international locations.
How much does shipping insurance cost?
Keep in mind that the declared value of your shipment determines insurance costs. This is why it is important to declare the right amount it would to repair or replace your item. That said, actual insurance is different from declared value. Your shipping company can only pay for damages you are able to prove. Here are some insurance costs covered by various carriers.
Value of Contents Insurance Cost
FedEx shipping insurance
UPS shipping insurance
USPS shipping insurance
Is shipping insurance worth it?
The need for international shipping insurance depends on the value and volume of your shipped items. Even though shipping services are quite reliable, the cost to cover lost or damaged items are steep. The last thing you want to do is pay an exorbitant amount to cover your items.
If you are a non-frequent shipper and you’re sending a casual package or a simple document overseas, it is very unlikely that you will need shipping insurance.
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How does shipping insurance work?
You will need to file a claim with your shipping carrier or insurer. Once you file a claim, you may be asked to submit the necessary documentation to prove that your item was damaged or lost and the overall value of the items. The carrier will then process your claim and conduct the necessary evaluations.
Conclusion
Your customers are more likely to revisit your eCommerce when the overall experience is great. Timely delivery and a reasonable return policy can bring back your regulars and new customers. Shipping insurance is an easy way to achieve this and win your customer’s hearts without leaving a dent in your budget.
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