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Small Package Insurance

Small package insurance has been a topic that shippers have faced for years.  As all shippers are aware the small parcel carriers include insurance up to $100.00 to cover any shipments that become damaged or missing during transit to cover the repair of the product or cost of replacement.  However, if you are sending products that have a value over $100.00 and ship multiple packages a day the "Declared Value" option provided by these carriers can be pretty expensive at 85 cents per hundred dollars of value. 

The declared value option offered by the carriers can be a convenient service if you are an infrequent shipper that rarely sends packages having a value over $100.00 and rarely experience damaged or missing packages.  On the other hand, if you are a medium to large volume shipper that frequently experiences missing or damaged packages this can become quite costly.  How do you minimize your insurance transportation costs?

There are many steps you can take to determine what might work best for you as a shipper.  First, it is important to review your packaging.  Both UPS and FedEx offer package engineering services to help you best approach quality packaging to avoid costly damages.  In addition, there are a number of firms online that offer assistance such as www.ranpak.com, www.adeptpkg.com, www.wiley.com and www.chainanalystics.com.

Second, evaluate your losses over the past year along with the value of your shipments in order to have information to talk about.  With this information you can then review your corporate insurance options which many companies have for other parts of their business and may allow a rider to cover transportation insurance.  This has been a valuable asset for numerous companies Ship Watchers to launch V7 Portal Update on May 29th, 2013. New features, enhancements and reports for all our clients here at Ship Watchers.helping decrease their overall costs associated with damaged packages.  You can also obtain alternative quotes as a comparison from companies like www.u-pic.com or www.pipinsure.com.  A self insurance program may be the best option for some companies given their shipping characteristics.

Once you have determined the best approach to transportation insurance it is important to publish and audit the procedure in place to make sure it is being followed internally.  It is certainly plausible to have two separate policies depDealing with the smaller to medium sized shippers with our basic overview and review sections to larger shippers with cost allocation and unauthorized monitoring just to name a few.

On Monday the 29th, 2013 we will be updating our network portal to our newest release V7.  This portal has more features and reports than our previous versions.  Please be patient with us as we will be taking the current portal offline from time to time during the week ending 06.01.2013.  Users will get an offline notification during these times, please just check back as we will only be keeping it offline for short time periods.

We will be sending out a survey after about 30 days of use and see if you have any suggestions as your input is very important to us.

Thank you for your attention to this service update.

Any questions or concerns during this upgrade please contact our Audit Support Center at: oncall@shipwatchers.com or at http://support.myshipwatcher.com

www.shipwatchers.com

ending on your situation.  We hope that this helps you work on a better alternative for transportation insurance that leads to minimized costs associated with damaged or missing packages.

Please do not hesitate to reach out to us with any questions you may have regarding our auditing solutions or how to best approach your transportation insurance spend.  24/7 Support including Chat is available any time at http://support.myshipwatcher.com.  We also offer free Damage Claim Processing through our Customer Support Staff for all clients of Ship Watchers.




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  1. Ethan B.

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