Shipping Insurance Guide: Coverage and Costs
FAQs
What is shipping insurance and why is it important?
Shipping insurance protects the value of packages in case they are lost, damaged, or stolen during transit. It provides financial protection and peace of mind for both sellers and buyers.
How much does shipping insurance cost?
Shipping insurance rates vary by carrier, value of items, and destination. Expect to pay 1.5-4% of the shipment's value. Get quotes from multiple providers.
When should I buy shipping insurance?
If you regularly ship valuable, sensitive or important items, shipping insurance is highly recommended to protect against potential losses from damage.
What does shipping insurance cover?
Policies typically cover the item's value, shipping charges, and packing materials in case of loss/damage. Some also cover theft. Check policy details for exclusions.
How do I file an insurance claim?
Save all paperwork related to the shipment. Contact the insurer to start a claim. Provide necessary documentation and details on damage/loss. The insurer investigates and issues reimbursements.
How do I choose the right shipping insurance?
Consider coverage amount, provider reputation, goods type, transport mode, shipment value and origin/destination to select the ideal policy for your needs.
