When sending a package, most people expect it to be delivered with no concerns. Unfortunately, unforeseen events can sometimes cause issues with shipments. The package may be lost or damaged in transit, causing frustration and inconvenience for everyone involved. This is where package insurance, or shipping insurance, becomes beneficial.

This is a type of insurance that covers loss or damage to a package while it is being shipped. It can be purchased from a shipping carrier or a third-party company. In this article, we will touch on some fast facts about shipping insurance.

It Can Save You A Lot Of Money

One of the main reasons people purchase package insurance is to protect their valuable items and save money. In the instance a package is lost or damaged, the sender would be responsible for the cost of replacing or repairing the item. 

For example, if a package containing a laptop is lost in transit, the sender may need to pay hundreds or even thousands of dollars to replace it. On the other hand, if the sender had purchased insurance for a fraction of that cost, the company would cover the cost of replacing the laptop.

Insurance costs often seem like an unnecessary expense. However, the cost of replacing the item can be exponentially more expensive.

Costs Vary Between Shipping Carriers and Insurance Providers

When purchasing shipping insurance, compare rates from different providers to ensure that you are getting the best deal. Some shipping carriers offer coverage, but it may be more expensive than third-party providers. It is important to compare costs and coverage to find the best option for your needs.

The Claims Process Varies Between Carriers and Providers

When choosing a shipping carrier or provider, it is important to consider their customer service. Take a look at their track record for handling lost or damaged packages. Some carriers may have a better reputation for handling claims than others.

Some carriers may require the sender to file a claim directly. Others may require the sender to file a claim with the provider. It is important to understand the claims process before purchasing insurance to ensure that it is straightforward and efficient. 

Read reviews and do research before choosing a shipping carrier to ensure they are reliable and trustworthy.

International Shipping Insurance Is Important 

In addition to domestic shipments, insurance is also important for international cargo. These may be more likely to encounter delays or damage due to the additional handling and transportation involved. Purchasing international insurance can provide peace of mind for both the sender and the recipient.

In summary, shipping insurance is an important consideration for anyone who sends parcels. By comparing rates and understanding the claims process, you can choose the best provider for your needs. Whether shipping domestically or internationally,  insurance can save time, money, and frustration in the event of a lost or damaged package.