Why Taking Out Shipping Insurance Is Worth It
Let’s paint a picture that is, sadly, a little bit too familiar to all of us. You are on your favorite shopping website, and you are ordering something that you need, want, or even excitedly saved up money for.
You choose the option to ship your order without insurance because you have faith in the company, delivery service, or the insurance price is too high. The package arrives damaged or is late for weeks, even months, or worst case scenario – your order never arrived.
Depending on, of course, what you are ordering and having shipped and the business that you are doing it from, the company will offer to resend whatever you have ordered again if you can prove that the package was tampered with or never arrived. What will you do if you ordered something unique, one of a kind, with a high value?
All packages should be handled with a certain standard of care. However, not all packages are equally easy to ship out or to keep track of. Sometimes, this is an issue caused by the type of package, sometimes it’s due to human or system error, or purely the fault of the delivery company. This isn’t a risk that you can take if you are shipping something of high value.
Believe it or not, but most logistic or delivery companies will not offer full-value insurance. Unival Logistics, specialized in shipping high-value packages and shipping insurance, are different. Covering up to $100,00 for international insurance and up to $150,000 for domestic shipping insurance, full-value insurance is one of Unival’s specialties.
Here, we are going to break down what basic insurance and what full-value insurance is, what the difference is and why full-value insurance shipping is a game-changer.
Basic vs. Full-value Insurance
In a sea of shipping companies and insurance companies, you need to find which one (or ones) suits you and your needs. For random nick-nacks that aren’t expensive or one of a kind, paying for shipping insurance likely won’t be your top priority. Having shipping insurance is of key importance if you want to secure your order and your finances.
In order to discuss the difference between basic and high-value insurance, we need to understand what each type of insurance entails. Firstly, shipping insurance is a financial service that protects customers and shippers from their goods getting stolen, damaged, or lost.
When a package is insured and it’s damaged upon arrival, the insurance guarantees that you get reimbursed for the value of the package. When you pay for your order and the skipping, you assume that your package will arrive in pristine condition.
Above all, that’s the whole point of shipping services; to receive your package in the condition that you bought it in, on the promised delivery date. Most businesses, e-commerce websites, and other shipping platforms will offer basic insurance.
Basic insurance usually financially covers the compensation for the package if it was damaged or lost. Some basic insurance will even cover a replacement, for no cost, if the previously mentioned situations happen. Even though it’s convenient, shipping insurance isn’t always a “must”.
How Full-Value Shipping Insurance Works
When wondering whether or not you should get insurance for your shipment, ask yourself the question if you have the finances to buy said item again (in case it gets lost or damaged).
It’s a simple question, yet highly effective. If the value of the item(s) ordered is high – shipping insurance is always highly recommended. At times, small packages such as jewelry or expensive electronic pieces can be overlooked or evaluated as non-valuable; causing a whole sequence of problems.
Of course, losing any package causes trouble and stress. For this situation, imagine if you had a jewelry store that sold items containing precious stones and your products were overlooked by your shipping service of choice.
With Unival Logistics, due to the technology, load planning tools, methodologies, customized transportation management technology, efficient shipping solutions, and over 14 years of experience, this is a situation that cannot occur.
Why You Should Consider Specialized Logistics Companies
When choosing shipping insurance, especially for a cargo of high value, it’s important that the company has a history of doing credible business, focusing on customers, security, and finding cost-effective solutions. If you have a business or an e-commerce store, you want to choose a shipping option that offers exactly what your business needs.
Most shipping insurance companies will request the value of your package, which can be a bit of a hassle, especially if you have a business that ships out packages (with a high value). Specialized logistics companies offer industry-specific solutions that allow you to find the best and most cost-efficient option to ship and insure your goods.
How You Can Find a Good Shipping Partner
Look for a company that has shipped goods of all sorts and all kinds of value all over the world and has a proven track record. Even though shipping always comes with certain risks or potential dangers, good logistics companies have perfected their methods in order to minimize these possibilities.
In the rare case that something goes wrong with the shipment of the cargo, your carrier should be ready to take full responsibility, even in case of a fire, water damage, damage caused by weather, and even theft.
Apart from providing full-value shipping insurance, another part of what makes a good company stand out is if they offer API. API is offered in order to help businesses integrate with all shipping functionalities, ensuring that everything works smoothly.
In essence, if you ship goods regularly, your chosen partner company should be an extension of your own. For any business that is not strictly local, shipping plays a large role. You need to think carefully and consider your options, and find a reliable partner that will fulfill all of your needs.
