subject: Should I Insure My Shipment? [print this page] The most common questions that courier companies field on a daily basis are probably about expected delivery times, and about insurance. Everyone that ships with a Chicago courier service always wants to make sure that their shipment is going to be insured, because everyone has heard horror stories about what can happen to the items that you're shipping with a courier company. Packages become lost, are delivered to the wrong address, or are left out in the rain. While all these events happen very seldom, it is still important to make sure that anything that you ship is adequately insured.
The insurance that you need on your shipments is in most cases going to be completely provided by the courier company. Courier companies all have a certain amount of "courier insurance" that they carry which will compensate the owner of a shipment should it become damaged while in transit. The numbers of things that are covered under this type of insurance are generally quite varied, and the coverage provided is usually more than adequate.
Things like damage from a vehicle accident are covered under courier insurance. So are all the common problems which might happen to a package while in transit. You should be covered if your package is stolen, rained on, dropped by a courier, or delivered to the wrong address. Other, rarer events may very likely be covered as well depending on the coverage of your particular courier.
There are certainly times when you're going to need to take out additional insurance however. If you're hiring a courier to work completely for your company it may be possible that they don't have coverage and you need to provide it. Never assume that a shipment is insured, or you could be in for a nasty surprise should something happen to damage the shipment. It only takes a few moments to ask the question and to find out exactly what kind of coverage your shipment has.
You may also find that the dollar amount of coverage provided by the insurance in question is inadequate. If that is the case, take the time first to talk to the courier company. They may have an agreement with their insurance company that allows them to sell increased coverage. If that is not the case though, you may have to go to your own insurance company and ask them about the kinds of options you have for insuring a shipment in transit.
by: Zachary Malone
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