Shipping insurance becomes especially important for you if you have a business that ships a great amount of expensive goods, but can also useful if you are simply shipping a costly item for personal reasons (such as moving or as a gift). It’s important that you learn all you can about shipping coverage so that you can get proper insurance protection.
Often, the shipping company will issue the insurance plan for you as an additional cost above that of shipping. Make sure you ask the shipping company what its insurance rates are so that your shipping bill doesn’t surprise you after the fact.If you buy something on auction giant eBay, you can usually get decent freight insurance on your shipment. If an item arrives late or in poor condition – or not at all – you can demand a complete refund from the insurer. Depending on the type and cost of the item you buy, you might want to purchase additional insurance coverage above the standard limits offered by popular shippers such as DHL or the U.S. Postal Service. For example, the USPS covers damaged or lost articles for up to $5,000.
Homeowner’s insurance can sometimes cover freight shipments for you, but you should verify with your home insurer what its limits are regarding freight coverage. Also, since theft is often a worse threat than damage to your shipping goods, you need to make sure that your insurance can reimburse you for the full value of the goods. Don’t be dissuaded from shipping in the future; just see that you are protected against unexpected losses.
