Is Shipping Insurance helpful for your eCommerce store?

 

 

 

Whenever it comes to opening up an eCommerce business or setting up your eCommerce store shipping is the part of the business that will help you to raise your business or directly leads to the downfall of your eCommerce business.

Ecommerce business mainly leads to placing the order and delivering it to the customer’s doorsteps. It all depends upon the shipping of the products and the best delivery of products will lead to customer satisfaction and it will help you to make your business trustworthy.

Sometimes the products shipped are misplaced and damaged so it should be taken care of because in the end, it will lead to customer’s disappointment.

How it can be taken care of?

And lot more questions are there in people’s mind for this..check below and get great tips for the same.

 

What is Shipping Insurance?

 

Shipping insurance is the kind of service that will help you to get the payback if the products get any of the harm in the way reaching to the customers. 

 If you have shipped the products and get any of the damage or products are been stolen and if any of the products are been misplaced then all the money that you had invested in that product will be returned and it's a great service provided by the shipping insurance companies.

Getting shipping insurance will help you get proper benefits and no loss for your e-commerce business so you can spend less money and earn more benefits.

Spending for the shipping insurance will not create hassle in any way so its completely safe and secure so never get afraid to spend on this and get a number of benefits for your eCommerce store.

 

How does Shipping Insurance work?

 

Shipping insurance provides reimbursement for the products that are not properly delivered.

As explained earlier the products that are not shipped properly and are broken or stolen in the way of delivering to the customers all the money you will be given back to you.

If you want to get your reimbursement you have to submit a file and then after that, you will get the reimbursement for the same. You have to make sure you have all the necessary documents for making the claim for your insurance.

After all the documents work is being done after that the details of the product and value of the product go to the shipping insurance company and you get the profit for the same.

The time period of getting insurance depends upon the insurance serving company.

 

Factors you should take care of before applying for the insurance

 

Whenever you are about to claim your insurance or you are thinking for the same then you have to keep in mind the number of factors that will help you get your insurance.

Check out some of  the  factors that are mentioned below :

  • First of all, check that the product comes under insurance or not because some of the products don’t come under insurance.

 

  • FMCG products, for these products you cannot claim the insurance because there are a number of policies for the insurance companies.

 

  • Products like gemstones and other hazardous materials don’t cover these insurance policies.

 

  • Read the terms and conditions of the shipping insurance companies because there are different policies for each and every company.

 

  • Check the amount companies are offering for the particular product because if companies are offering less amount then it is of no use.

So before claiming insurance check all the guidelines so you would not get any of the loss for the same. 

 

Now let’s dive into types of insurance services you can opt for.

Types of Shipping insurance 

 

Self-Insurance-

Self-insurance parcels take care of the parcels that are sent through carriers and provide more inclusive protection in good and cheaper rates.

 

Carrier Insurance - 

It is provided by your shipping company It only involves the delivery quote or has to pay a little extra amount.

 

Third-Party Insurance -

In this insurance, the shipper takes full responsibility for the package to be delivered and it will cover whole expenses for the refunds and repayments.

 

Benefits of Shipping Insurance

 

 

It saves a lot of money

 

When you ship a product and in any way, it gets stolen or damaged it creates a huge loss and if the shipping insurance is done it will help a lot and will not lead to a loss.

 

The insurance company will handle all the Losses

 

Courier companies or any of the cargos are not responsible for the losses if any of the product shipped is broken or misplaced.

This will be a loss for your company and will lead to a bad impact on the customer too so it’s good if the product is insured it will help you to get the reimbursement of the product and you can again ship the product back to the customer, it would take little more time but it happens once in a while.

It’s easy to get the insurance

 

It’s a good option to get insurance and it doesn’t take much time to complete its file process. It doesn’t cost much.

So it’s better to invest in insurance so you could not get any loss.

 

Shake the Burdens Off

 

When your items are not insured and if the parcel gets damaged in any way all the burden When your items are uninsured and something happens to your parcel, then the burden of the parcel will be on you.

If you get shipping insurance, you will save yourself a lot and all your headaches will be putting off.

If anything happens to the package there is nothing to be worried about and the whole burden will be kept off.

 

In the Nutshell

 

If the thought of damaged parcels, or the lost parcels making you a bit nervous then it’s a good time to consider shipping insurance and  So, if the idea of loss, damaged orders, or theft makes you a bit nervous, then perhaps it is high time that you consider shipping insurance for your eCommerce company.