Reviewing Discount Shipping Insurance Options

“Why should I insure my shipments with your company?”

This is a great question because except for a few major trade shows most of our interactions with customers are done via telephone or the Internet. We can explain that our rates are low by showing potential savings,  explain our paperless claims process, provide great references, and we can even give demonstrations of our technology processes.  Our website also provides a wealth of information, but these are just great first steps. When researching a shipping insurance partner for your business, make sure to go the extra mile and take a few minutes to research and ask the potential provider additional questions.

To assist you in making a decision on a shipping insurance provider, we have come up with the following questions you should always ask before doing business with a cargo insurance or  parcel insurance company:

  1. Are you an insurance agency or do you refer business to an insurance company? Make sure to find out if the company is working with you directly with a custom policy or if they are passing your coverage onto another company.
  2. If you are an agency, who is your underwriter? Basically; who is backing the shipping insurance company and are they legitimate?
  3. How long has the company or website been transacting insurance? Will you be working with a company that does not have a documented history of providing coverage and claims management?
  4. What state(s) are they licensed in? Are they licensed to sell insurance at all?
    • To check this, search for the state department of insurance website from which the company is domiciled. Once there, you should be able to find an option to check the status of a company. In California, the website is http://www.insurance.ca.gov/license-status
  5. Does the company have a physical location? Can you walk into their office for a meeting or are you just working with a “website”? Virtual organizations do have their place, but a trusted insurance company should have a physical office address, not just a PO Box.

These are all questions that we are happy to answer for potential customers. If you are looking into other options besides Shipsurance, please make sure to interview your provider accordingly.

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