Shipping Insurance Simplified
Should You Insure Your Shipment? Who Manages Shipping Insurance?
Absolutely, shipping insurance is vital, and at Klarah Diamond, it’s just $10. To grasp its significance, consider the likelihood of your package being lost, damaged, or stolen. This decision is particularly straightforward for high-value items. However, insurance also safeguards against package loss and saves you money.
Shady customs officials, unregistered workers in courier company sorting areas, and dishonest shipping company employees can pilfer packages. While these occurrences are unexpected, they do happen. In the unfortunate event that your package goes missing, the insurance company covers the loss while you remain protected.
Our Shipping Insurance Coverage
Klarah Diamond’s shipping insurance protects your package from dispatch to delivery. However, it does not cover stolen mail delivered to porch pirates. If you encounter a missing or stolen package, we advise you to:
- Check with your household members, friends, or neighbors.
- Lodge a complaint with the courier company.
- Inform us of the situation for further assistance.
- Review CCTV footage and report to the police if necessary.
The Importance of Shipping Insurance
The COVID-19 pandemic has disrupted the world, leading to store closures and a surge in online shopping. Shipping companies are overwhelmed, which increases the likelihood of inefficiencies. Shipping insurance offers the best protection for your package and money during these uncertain times.
As the holiday season approaches, eCommerce sellers are preparing for increased shipping demands. Shipping insurance is crucial during this period to protect your packages and provide peace of mind.
Declared Value and Coverage
Carriers and insurers focus on declared value—the value you assign to the item being shipped. If your package is lost or damaged, you must prove the item’s value to receive compensation. Insurers will pay the declared value or the item’s replacement cost, whichever is lower. This approach can significantly reduce insurance costs for high-value items.
Considerations for Shipping Insurance
Certain items are more likely to be stolen, such as high-end brands and easily resalable items. Destination also affects risk, with some areas being more prone to theft and damage.
The Shipping Insurance Equation
When evaluating the need for shipping insurance, consider the average cost of insuring an item compared to the cost of replacing lost, stolen, or damaged items. If the cost of insurance is lower, it makes sense to include insurance to mitigate the risk.
Learn More About Shipping Insurance
If you want to learn more about shipping insurance carriers, policies, procedures, and how to file claims, contact us via support@klarahdiamond.com. We’ll be happy to send you a PDF brochure about shipping insurance.