The best way to handle this situation is to get a shipping protection policy. By investing in insured package delivery, you\u2019ll get a complete reimbursement in case your shipping package is damaged, lost, or misplaced. The cost of goods delivery insurance depends on the value of goods. <\/p>\n\n\n\n
Know About Shipping Insurance – What does Shipping Protection cover? <\/h2>\n\n\n\n
Majorities of couriers cover both international and domestic shipping expenses. The covered value is up to $1000 in case of any damage or default. However, the shipping protection coverage value varies based on brands and the items in your package. <\/p>\n\n\n\n
Another common mistake e-retailers make while estimating insurance for shipping goods is that, they consider shipping assurance and declared value for a package as the same. However, the concept of the declared value is completely different. It is basically the maximum liability value in the event of damaged product loss. <\/p>\n\n\n\n
If you want shipping protection over and above this value, you\u2019ll need to invest in national or international shipping insurance coverage. <\/p>\n\n\n\n
Here\u2019s what to expect from the popular couriers in terms of shipping assurance: <\/p>\n\n\n\n
1. USPS <\/h3>\n\n\n\n![\"\"\/](\"https:\/\/lh3.googleusercontent.com\/b8OnrZKfltPS7dgRWtJIf4Rl9YEjsCHl8DX4PKh0M3Tv3twfbB1isWNn7rLPf-zXaXNBI2F97XGa5fAthogJ2pBSLM5HbeM6mKUBCSkwusgpNcF0AD0i67zVgkfBT5Ie3xH4gfip=s0\")
<\/figure>\n\n\n\nSource: Easyship<\/a> <\/p>\n\n\n\nYou can see that USPS has a value-based shipping protection policy. Depending on the value of the items in a package, they have also varied the insurance costs. <\/p>\n\n\n\n
2. FedEx <\/h3>\n\n\n\n![\"\"\/](\"https:\/\/lh4.googleusercontent.com\/vFNOrHPC2GdGUfi0QrXzv4hiW4HRwh4MtFear4wvpqVuxMyRYZiuxwy9LTGaApSJ4zCuBX4uAlJl7OJIST3mHQWEDWlPliFUjuf0YFIyQ5-KCrUbj_qaZo8fAth9pvzIrhJS9nH3=s0\")
<\/figure>\n\n\n\nSource: Easyship<\/a> <\/p>\n\n\n\nFedEx also follows a similar approach to shipping insurance but the insurance cost is lesser than USPS. <\/p>\n\n\n\n
3. DHL <\/h3>\n\n\n\n![\"\"\/](\"https:\/\/lh5.googleusercontent.com\/oYII6fB8qUusoZSU3Hctc7UILrZ7yYKkiaNL_zJYmmOPSsx4-FVWQAN1A7R0qZ-xd48B_TuhAqH0oLxftWmZ1knCIyNcsNiUYZY-41JaeJf94P-EzES-79JOFvd-waKdPxTuxHwr=s0\")
<\/figure>\n\n\n\nSource: Easyship<\/a> <\/p>\n\n\n\nDHL\u2019s shipping protection policy is also based on item value. <\/p>\n\n\n\n
Shipping Insurance – Buyer vs. Seller<\/h2>\n\n\n\n
The concept of shipping insurance is completely different for buyers and sellers. Wondering how does shipping insurance work for buyers and sellers? Let\u2019s find out! <\/p>\n\n\n\n
Buying the shipping protection <\/h3>\n\n\n\n- A seller purchases shipping assurance because they\u2019re responsible for a product until it is delivered safely to the customers. <\/li><\/ul>\n\n\n\n
- Buyers can also purchase shipping insurances. Mostly in situations where a buyer lives in a remote or relatively unsafe area, the ordered package may be at risk.<\/li><\/ul>\n\n\n\n
The terms and conditions <\/h3>\n\n\n\n
Sellers must be well aware of the terms and conditions before opting for shipping coverage. Here\u2019re a few points worth noting down: <\/p>\n\n\n\n
- Your shipping claims may not always be accepted. In fact, courier companies can very well deny your shipping claims if they do not cover any particular event. For instance, USPS does not offer shipping coverage for stones and coins. <\/li><\/ul>\n\n\n\n
- Sellers often feel that they\u2019ll get full insurance coverage for high-value items. However, in reality, there\u2019s no such certainty. Did you know that FedEx offers shipping assurance coverage of up to $1000 for Plasma TVs? If the price of a Plasma TV is beyond that, you\u2019ll not get any shipping protection coverage. <\/li><\/ul>\n\n\n\n
- Packaging of goods also matters. Sometimes sellers miss out on their shipping claims because the packaging is done poorly and courier companies don\u2019t accept the responsibility for damaged products. <\/li><\/ul>\n\n\n\n
Shipping claims and plans <\/h3>\n\n\n\n
When a seller finds out that the shipped package is broken, lost, or damaged, they need to take action immediately. You should also be aware of the courier company\u2019s cut-off time to make your shipping assurance claim. For instance, if you\u2019re collaborating with USPS, the typical time frame to file a shipping assurance claim is within 15 to 60 days. <\/p>\n\n\n\n
Above all, both buyers and sellers need to stay patient and make all the necessary formalities to opt for their shipping claim. <\/p>\n\n\n\n
Benefits of Shipping Protection – Key Points you Need to Know <\/h2>\n\n\n\n
Is the question \u201cshould I add shipping insurance?\u201d still bothering you? Well, let\u2019s clear out your doubts by stating the benefits of shipping protection for your company. Here\u2019s what you\u2019ll gain by adding shipping protection coverage to your eCommerce store: <\/p>\n\n\n\n
1. Zero replacement costs <\/h3>\n\n\n\n
When you don\u2019t opt for insurance for shipping goods and the package gets misplaced, who do you think will cover the replacement cost? Yes, it will be you, the seller. On the contrary, if you do apply for shipping protection coverage, you won\u2019t have to bear the replacement cost. You can take a sigh of relief as protecting the shipment then becomes the responsibility of the insurer. <\/p>\n\n\n\n
2. No more stress and frustration <\/h3>\n\n\n\n
When you\u2019re just starting out your eCommerce journey and you have a tight budget, what should be your top priority? To ensure that the end-users receive their packages safely and they keep purchasing from you in the future. But does that happen every time? Not really. <\/p>\n\n\n\n
There are many uncertain scenarios where damaged packages<\/a> reach your customers and they immediately opt for a return. This can be stressful for new sellers considering the financial restrictions they face. If you have insurance for shipping goods in place, you can worry less about your shipment packages. Even if there\u2019s a mishap, you\u2019ll get a reimbursement. <\/p>\n\n\n\n3. Unmatched customer service <\/h3>\n\n\n\n
One of the major purchase decision-making factors for online shoppers is the delivery experience. 84%<\/a> of shoppers never buy from the same brand after a poor delivery experience. Hence, if you want to boost customer satisfaction rates with a hassle-free delivery experience for your buyers, getting shipping insurance is an imperative choice. Shipping protection will reimburse all the replacement costs for a misplaced order. That way you can attract the buyers with your credibility, even after a poor shopping experience. <\/p>\n\n\n\n4. No paperwork involved <\/h3>\n\n\n\n
If you collaborate with a centralized insurance provider, you don\u2019t have to involve in manual activities and paperwork. Such insurance providers automate the whole process and set you free from calculating landed costs and coverage independently. Isn\u2019t that an advantage? <\/p>\n\n\n\n
The Types of Shipping Insurance Values you should Know <\/h2>\n\n\n\n
There are two types of shipping insurance values that you can opt for: <\/p>\n\n\n\n
1. Declared value <\/h3>\n\n\n\n
Declared value is the value an eCommerce store declares for a particular shipment package. Many courier companies consider this declared value as the base of shipping protection policies. However, note that, in case of any mishap, you\u2019ll have to prove the value of the shipment package. <\/p>\n\n\n\n
In fact, the insurer will pay you the smaller value between the declared value and the item\u2019s actual worth. Also, you\u2019ll get the coverage only if you can prove that the mishap has happened due to the courier company\u2019s negligence and the package was in their possession at that time. <\/p>\n\n\n\n
2. Items covered within the insurance <\/h3>\n\n\n\n
You can also expect free shipping assurance coverage up to a certain amount. Most courier companies offer this benefit to the sellers. But here\u2019s the catch. This type of shipping protection policy works only for an entire package. So, if you\u2019re delivering multiple items within the same package and the package’s overall value is on the higher side, you need to go for supplemental shipping protection to receive a full recovery. <\/p>\n\n\n\n
Want to offer a great shipping experience:<\/h2>\n\n\n\n
Do you want to offer a top-notch shipping experience to your customers? Get started with ShippingChimp. Our delivery dispute portal<\/a> makes the delivery experience frictionless for the customers with: <\/p>\n\n\n\n
<\/figure>\n\n\n\nSource: Easyship<\/a> <\/p>\n\n\n\n You can see that USPS has a value-based shipping protection policy. Depending on the value of the items in a package, they have also varied the insurance costs. <\/p>\n\n\n\n Source: Easyship<\/a> <\/p>\n\n\n\n FedEx also follows a similar approach to shipping insurance but the insurance cost is lesser than USPS. <\/p>\n\n\n\n Source: Easyship<\/a> <\/p>\n\n\n\n DHL\u2019s shipping protection policy is also based on item value. <\/p>\n\n\n\n The concept of shipping insurance is completely different for buyers and sellers. Wondering how does shipping insurance work for buyers and sellers? Let\u2019s find out! <\/p>\n\n\n\n Sellers must be well aware of the terms and conditions before opting for shipping coverage. Here\u2019re a few points worth noting down: <\/p>\n\n\n\n When a seller finds out that the shipped package is broken, lost, or damaged, they need to take action immediately. You should also be aware of the courier company\u2019s cut-off time to make your shipping assurance claim. For instance, if you\u2019re collaborating with USPS, the typical time frame to file a shipping assurance claim is within 15 to 60 days. <\/p>\n\n\n\n Above all, both buyers and sellers need to stay patient and make all the necessary formalities to opt for their shipping claim. <\/p>\n\n\n\n Is the question \u201cshould I add shipping insurance?\u201d still bothering you? Well, let\u2019s clear out your doubts by stating the benefits of shipping protection for your company. Here\u2019s what you\u2019ll gain by adding shipping protection coverage to your eCommerce store: <\/p>\n\n\n\n When you don\u2019t opt for insurance for shipping goods and the package gets misplaced, who do you think will cover the replacement cost? Yes, it will be you, the seller. On the contrary, if you do apply for shipping protection coverage, you won\u2019t have to bear the replacement cost. You can take a sigh of relief as protecting the shipment then becomes the responsibility of the insurer. <\/p>\n\n\n\n When you\u2019re just starting out your eCommerce journey and you have a tight budget, what should be your top priority? To ensure that the end-users receive their packages safely and they keep purchasing from you in the future. But does that happen every time? Not really. <\/p>\n\n\n\n There are many uncertain scenarios where damaged packages<\/a> reach your customers and they immediately opt for a return. This can be stressful for new sellers considering the financial restrictions they face. If you have insurance for shipping goods in place, you can worry less about your shipment packages. Even if there\u2019s a mishap, you\u2019ll get a reimbursement. <\/p>\n\n\n\n One of the major purchase decision-making factors for online shoppers is the delivery experience. 84%<\/a> of shoppers never buy from the same brand after a poor delivery experience. Hence, if you want to boost customer satisfaction rates with a hassle-free delivery experience for your buyers, getting shipping insurance is an imperative choice. Shipping protection will reimburse all the replacement costs for a misplaced order. That way you can attract the buyers with your credibility, even after a poor shopping experience. <\/p>\n\n\n\n If you collaborate with a centralized insurance provider, you don\u2019t have to involve in manual activities and paperwork. Such insurance providers automate the whole process and set you free from calculating landed costs and coverage independently. Isn\u2019t that an advantage? <\/p>\n\n\n\n There are two types of shipping insurance values that you can opt for: <\/p>\n\n\n\n Declared value is the value an eCommerce store declares for a particular shipment package. Many courier companies consider this declared value as the base of shipping protection policies. However, note that, in case of any mishap, you\u2019ll have to prove the value of the shipment package. <\/p>\n\n\n\n In fact, the insurer will pay you the smaller value between the declared value and the item\u2019s actual worth. Also, you\u2019ll get the coverage only if you can prove that the mishap has happened due to the courier company\u2019s negligence and the package was in their possession at that time. <\/p>\n\n\n\n You can also expect free shipping assurance coverage up to a certain amount. Most courier companies offer this benefit to the sellers. But here\u2019s the catch. This type of shipping protection policy works only for an entire package. So, if you\u2019re delivering multiple items within the same package and the package’s overall value is on the higher side, you need to go for supplemental shipping protection to receive a full recovery. <\/p>\n\n\n\n Do you want to offer a top-notch shipping experience to your customers? Get started with ShippingChimp. Our delivery dispute portal<\/a> makes the delivery experience frictionless for the customers with: <\/p>\n\n\n\n2. FedEx <\/h3>\n\n\n\n
3. DHL <\/h3>\n\n\n\n
Shipping Insurance – Buyer vs. Seller<\/h2>\n\n\n\n
Buying the shipping protection <\/h3>\n\n\n\n
The terms and conditions <\/h3>\n\n\n\n
Shipping claims and plans <\/h3>\n\n\n\n
Benefits of Shipping Protection – Key Points you Need to Know <\/h2>\n\n\n\n
1. Zero replacement costs <\/h3>\n\n\n\n
2. No more stress and frustration <\/h3>\n\n\n\n
3. Unmatched customer service <\/h3>\n\n\n\n
4. No paperwork involved <\/h3>\n\n\n\n
The Types of Shipping Insurance Values you should Know <\/h2>\n\n\n\n
1. Declared value <\/h3>\n\n\n\n
2. Items covered within the insurance <\/h3>\n\n\n\n
Want to offer a great shipping experience:<\/h2>\n\n\n\n