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Shipping Insurance

Shipping insurance is a compulsory thing for any type of freight delivery. Today it is pretty easy to apply for an insurance form a forwarder, a shipping services provider. The customer only should fill out the form and declare the value of every item being transported. The part of the item's value would be a price for the insurance. If a shipping provider doesn't offer the insurance by default with your order, you can request for it additionally.

Shipping Insurance and a Coverage

You can consider shipment through any other company ordering insurance, or you can buy insurance online. If you have shipped some items 24 hours prior, you can sometimes order insurance for them too. Sometimes shipping companies offer the sufficient insurance. It means that this insurance is safe enough to cover the replacement of the customer's item.

The customer has to make sure that he understands the types of cargo items that are insurable. Also he has to know what items are excluded from coverage. The customer has to realize the type of damage that is covered by the insurance and how much money is necessary for such cargo to be covered. The customer has to inquire the addressee if he has enough time to inspect each item for damage after receiving.

If, despite the insurance, the cargo item is lost or damaged, you can call the company and file a claim. You will have to be ready to prove the value of the damaged item, either with special photos, documents, receipts certificates, etc. It is especially necessary for expensive objects.

Types of Shipping Insurance

There are a few types of shipping insurance. Someone distinguishes the carrier insurance, third party and self insurance. Some popular shipping companies such as FedEx or UPS offer the carrier insurance. The carrier insurance is bought together with the shipping costs or it may be provided free of charge. If you have any claims as for the damage using this type of insurance, it may take a certain time to process your claim.

The third party insurance can be purchased by the company on your behalf. This company shouldn't be the carrier's affiliation. The company agrees to refund your cargo if it is lost or damaged. This type of insurance costs really less than some other type of it. But the lack of this insurance is that if you need to claim for any damage or loss refund, the process can last for 1 or 2 weeks.

Self Insurance and Its Relevance

Self insurance can also belong to the one of the types of insurance. The seller saves money on insurance, so he can offer it for the lower rate or provide their goods at a better deal for both parties. But if the seller doesn't foresee any funds for possible coverage of claims, he can not be able refund the replacement if the claim happens.

Nevertheless, the shipping insurance is always necessary for any kind of cargo, especially if it is transported abroad. Of course, the seller promises to deliver your good in the best condition and in time. But nobody can be sure that nothing happens to your products while transportation.