subject: Do I Need To Get Insurance For My Courier Shipment? [print this page] Insurance is a very important part of the courier industry. In fact, it is probably true that this is one of the most important concerns in the mind of any Chicago courier service, as they need to ensure that they maintain proper insurance on all of their couriers and vehicles, as well as carrying adequate courier insurance. Because of the insurance requirements that any courier company is going to face, it is very unlikely that you are going to need to purchase additional insurance of any kind for your company's shipments.
Courier companies use an insurance product which is usually simply called courier insurance. This means that they have a policy which covers the value of the goods that you are shipping with them. So, while carrying your packages, if they happened to either lose your goods or to damage them in some way, you would be able to make a claim on this courier insurance policy to be reimbursed for the value of your goods.
Courier insurance covers almost anything bad which might happen during the course of a delivery. For instance, if a courier driver misunderstood an address and delivered a package to the wrong location, courier insurance would cover the replacement of the cargo. The same applies to any other situation in which a package might become lost due to some fault of the courier company.
Damage of all types is usually covered by the insurance which courier companies carry. For instance, if your courier driver is in an accident and your package gets damaged, the insurance should cover it. Also, if a courier negligently drops or damaged your package somehow, it will be covered. The same is true for any damage due to vandalism, fire, smoke, weather, or water. Not all couriers carry coverage this comprehensive though, so it is always good to ask about what kinds of policies your courier carries.
The other question that you're going to want to ask your courier company is what the maximum coverage provided on your shipment is. There are many cases where the total coverage provided may actually be less than the value of your shipment. This is the one situation where you might be required to invest in some of your own insurance for your courier shipment. This usually only happens for people that are involved in the shipping of very high priced cargos comparatively to the size of their shipments.
by: Norman Packwell
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