subject: Am I Required To Buy Insurance For My Courier? [print this page] Insurance is something that you should always make sure is in place before you ship anything with a Chicago delivery service. However, you should recognize that the responsibility of insurance should fall with your courier company, and not with you. You should always find out the exact details of the insurance coverage that your courier provides before you start shipping with them just to be on the safe side though.
When you are discussing insurance with your courier, there are two basic types of information that you're going to want to obtain from them. You're going to need to find out what types of damage and loss their policy will protect against, so that you can be confident that your shipment will always be protected. You also need to know what the maximum value is that your shipment will be protected for.
Most courier insurance policies should protect against almost anything which should happen to a shipment while it is in transit. When you're shipping goods, if something gets lost, stolen, damaged, or wrecked in a traffic accident, you will find that most courier insurance policies will completely insure the loss that you sustain. In most cases you definitely shouldn't need to buy any insurance to provide protection against any situation which isn't covered by your courier's standard policy.
The value of the insurance is a more complicated matter than what it insures against. Most courier insurance policies will have a figure which is known as the maximum declared value. This is the most value that they will insure a shipment for if it gets damaged. If you are shipping goods which are worth more than that maximum declared value, it may be important for you to look into obtaining additional insurance coverage.
There are different ways that you can get this type of additional coverage which you can add on to the existing coverage your courier provides. However, the way to do this may be determined by the courier company that you're doing business with. You should ask them what the best way is to increase your coverage if you need to. They may offer you a way to add a higher value rider with their insurance company. They may also tell you that you have to find your own solution, in which case you should contact your insurance company about buying increased courier insurance for the shipment that your courier is moving for you.
by: Zachary Malone
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