Over the years, buying and selling of goods and services on the Internet has become so popular that every organization or individual involved in trading is expected to have an online presence to increase their reach. The holidays are drawing near, new gaming consoles, phones and hi-tech TVs are being released almost everyday. Orders are being placed on goods from all over the world.
However, before you place your next order on that expensive new gear, how sure are you that your package will get to you? What if it doesn’t? What happens next? Well, that’s where shipping insurance comes in. Below are five advantages of shipping insurance and how you can make full use of it.
Have Peace of Mind:
There’s no greater feeling than knowing that someone’s got your back. Well, that’s what shipping insurance does for the insurance holders. The shipping insurance provides protection against the damage of goods, damage or loss of ships, terminals, cargo and other goods of transportation by ship.
If you’re a retailer and you buy and transport goods in bulk via ship, you can take advantage of this by getting your goods insured with an appropriate insurance company. Shipping insurance companies may reimburse senders whose parcels are lost, stolen, and/or damaged in transit.
Avoid Any Huge Financial Losses:
This is life, anything can happen. That is why shipment without insurance can lead to a big financial loss if it gets damaged or lost during transportation. Though there might be a lot paperwork, the insurance company is more likely to reimburse the insurance holder to minimize your loss.
You’re Protected from Catastrophic Events:
Catastrophic events happen all the time and include storms, shipwrecks, explosions and pirate attacks. According to Universal Cargo, catastrophic losses during the years 2011, 2012 and 2013 was approximately 2,683 containers. That’s a lot of orders who never made it home. No one is praying for something bad to happen, but you should take advantage of the protection provided by shipping insurance companies and get your package protected from some of the major catastrophic events.
No Additional Fees for Release of Goods:
‘General Average’ is a shipping principle that is accepted internationally. If certain types of accidents occur to the transport vessel, all parties share in the loss equally. As a result, You may be required to make a cash deposit in order for your cargo to be released. One of the advantages of purchasing shipping insurance is the fact that your insurance company assumes the responsibility and hastens the release of your cargo. Trust me, you definitely do not want to find yourself in an ‘general average’ situation without insurance.
Your Insurer Handles Losses:
Those involved in transportation of cargo (carrier) cannot be held responsible for many causes of loss that occur in transit. Hence, you should never rely on the carrier of your goods to cover losses. When you pay for shipping insurance, your insurer will handle this.
There you have it, five advantages of having shipping insurance and how you can make full use of it.
Hi there, I’m Emmanuel Ozigi, a biochemist in the making from Nigeria. In my spare time, I’m a science, health, and fitness blogger. I also specialize in graphic design and photo editing. I also have this insatiable hunger for information and the desire to learn new things. Visit my blog at http://sciencehealth24.com.