Shipping can be unpredictable at times. That’s why it’s crucial for small business owners to consider shipping insurance to protect their products and their bottom line. Here are the benefits of shipment insurance and why it’s a necessary investment.
Shipment Insurance: Why your small business needs it
What is Shipment Insurance?
Shipment insurance is a type of insurance that protects the value of goods being transported from one place to another. It provides coverage for loss, damage, or theft of the goods during transportation.
When you purchase shipment insurance, you pay a premium to the insurance company in exchange for coverage of the shipment. If the shipment is lost, damaged, or stolen during transit, the insurance company will reimburse you for the value of the goods.
Shipment insurance is important for businesses and individuals who regularly ship valuable items, as it provides protection against the financial loss that could result from a shipment being lost or damaged. It can also provide peace of mind and help ensure that shipments arrive at their destination safely and intact.
Shipment Insurance when shipping for your small business
If you own a small business, you know how important it is to keep your products safe while in transit. Unfortunately, accidents happen, and things can get damaged or lost while shipping. That’s why shipment insurance is so important for small businesses.
Shipment insurance protects your business if something goes wrong during shipping. If your product is damaged or lost, you can make a claim with the shipping company and receive compensation. This way, you won’t have to bear the full cost of the damage yourself.
Without shipment insurance, you would have to take on all the risk yourself. This could end up being very costly for your business if something went wrong during shipping. Shipment insurance is therefore an essential part of running a small business. It gives you peace of mind knowing that you’re covered in case of any accidents or mishaps.
If you’re worried about whether your package will be delivered, safety is the big concern. You may be wondering, “do I need shipment insurance?” Sadly, this is a question that’s best answered with “maybe.” Do you have expensive items like jewelry? Is your order low-value and sent through the mail?
Packages valued under $100.00 CAD are usually insured by the courier company up to that amount. However, when shipping items with a higher value, we recommend purchasing additional insurance with FlagShip on your package. The worst thing that could happen is that your package is lost or stolen, and you don’t have adequate insurance coverage, especially doing the holiday season when lots and lots of packages are being shipped all around the world.
Don’t be one of the many who are stressed about getting shipments to their customers on time. With shipment insurance, you can rest easy and enjoy what really matters: your business. Plus, if something were to happen in transit, like damage or theft, you won’t have to pay for it- the insurer will cover it.
FlagShip’s shipment insurance rates are the lowest in the industry with a rate of $1.25/$100.00 CAD. To get reimbursed you will need to go through a claims process and depending on who you ship with, the claims process can be quite the hassle. FlagShip makes your insurance claim process seamless and stress-free with our online shipping system. With the click of a button,adding shipment insurance to any shipment can be done right at the time of processing your shipment through FlagShip’s online shipping system .
If you are unsure about whether your shipment is insurable or not, don’t hesitate to reach out to us. Our team of shipping experts is always ready to assist you in navigating the complexities of shipping insurance.