Although we work as hard as we can to provide the safest and most reliable method of transport for your goods, there are always risks involved in shipping goods globally.
Xpress Cargo Logistics partners with reliable and experienced insurance companies that offer comprehensive insurance coverage to protect your shipments from damage, loss, and theft. We provide expert advice on the appropriate level of insurance for your shipment. While we work with insurance companies that operate under globally recognized shipping insurance standards, which offer limited liability based on weight, we recommend obtaining full insurance coverage to accurately reflect the value of your goods. Once the level of cover is determined, we handle all the necessary arrangements, making sure your cargo is fully protected throughout its journey. Please don’t hesitate to contact us today for a competitive shipping insurance quote.
Many shipping companies have limited liability under international conventions, which means that they only pay compensation if you can establish that they were at fault for the damage or loss to the shipment. If you can prove fault, the compensation will be based on weight or package count, which may be much less than the actual value of your goods.
Xpress Cargo Logistics will arrange shipping Insurance that covers your shipment against damage, loss, and theft from any external cause to their full value.
Why is shipping insurance necessary?
Without insurance, businesses face financial risks that can be expensive and damaging to their reputation. For example, if a business ships a high-value product without insurance and it gets lost or damaged during transit, the business may have to cover the cost of replacing the product or refunding the customer. This could lead to a significant financial loss, especially for small businesses. Shipping insurance provides a safety net for businesses, ensuring they are protected against these risks.
How much does shipping insurance cost?
Shipping insurance with Xpress Cargo Logistics varies by country but typically starts at 10% of the package value for outbound shipping or 5% for inbound shipping. For exact rates, please contact our customer service team.”
Shipping insurance is an optional service that businesses can purchase to receive financial reimbursement if their shipments are lost, stolen, or damaged. It can provide reassurance, especially for small businesses and those shipping internationally. The insurance covers 100% of the shipment’s value, allowing the seller to issue a replacement shipment to the customer at little to no extra cost.
Shipping insurance can cover a wide range of items, from e-commerce goods to important documents like legal certificates. Typically, it compensates for shipping delays, lost or misplaced goods, theft, and damage during transit. The cost of insurance is usually tied to the value of the goods.
However, shipping insurance does not cover certain occurrences, such as damage caused by the parcel or its contents, loss in weight or volume, wear and tear, or damage caused by insufficient packing. Whether a business needs shipping insurance depends on the value of its goods and the potential financial impact of a lost or damaged shipment. While the risk of loss or damage is low, having shipping insurance can provide financial cover and peace of mind for business owners.
The decision to purchase shipping insurance should be based on the value of the shipment. For businesses dealing with high-value items, such as electronics or furniture, the loss of revenue from a lost or damaged shipment could be significant. It’s important to consider the cost of insurance in the budget and margin projections. Despite being relatively inexpensive, shipping insurance can provide protection and peace of mind.
There are three main advantages of using shipping insurance
1. No loss of revenue: For e-commerce businesses, knowing that they will receive 100% of the value of lost goods can help maintain customer confidence and prevent financial losses.
2. Peace of mind: Providing shipping insurance can protect the business’s reputation and customer loyalty by ensuring a positive delivery experience.
3. Hassle-free claims process: With insurance, businesses can file claims for reimbursement quickly and easily, providing a seamless experience for customers.
Shipping without insurance exposes businesses to the risk of lost, damaged, or stolen shipments. While the risks are generally low, accidents can still occur. Proper packaging can help protect shipments during transit.
In the event of a lost or damaged shipment, filing a claim for shipping insurance involves contacting the customer service team to initiate an investigation. Claims must be submitted within 30 days of the shipment being accepted. A thorough investigation will be conducted, and updates on the findings can be expected within approximately 3 days.
Shipping insurance is crucial for businesses relying on shipping to deliver products to customers, providing an additional layer of protection against unexpected events during transportation. Without insurance, businesses are exposed to financial risks that can damage their reputation.
