Insurance. It sounds easy, right? Especially since many carriers include insurance protection up to a certain amount. That’s what most people think until an item is lost or damaged and they have to file a claim. That’s when they wish they had researched insurance a little more from the get-go. After all, your business is about growing revenues and lost, stolen or damaged shipments eat at the bottom line. If you know your insurance coverage in advance, you’ll be much happier when (if) you ever have to file a claim.
Shipping insurance comes in two flavors: Cargo Insurance and Declared Value. They are night-and-day different from each other. Here are five questions you must ask yourself about insurance, so that you make sure you’re getting protection you need:
