10 Reasons to Insure eCommerce Shipments
Establishing e-commerce websites require a lot of hard work. A significant portion of the setting up process involves building SEO friendly backlinks, posting ads on local newsletters as well as social media, use of content marketing to drive real product descriptions and overall enhancement of consumer engagement. However, providing products/services are just half the job done. It needs to reach the customers as well. Most E-commerce websites ship their products in bulk to the required destinations and to ensure the protection of interests of both the consumer and the e-commerce service provider, these e-commerce shipments need to be insured. Here we shall go through 10 Reasons to Insure eCommerce Shipments:
1) The prime reason would be to insure that any transit caused damage doesn’t affect the seller regarding profit. Different insurance schemes are available for various transportation methods.
2) Insurance is relatively inexpensive and allows the insured person a recourse if one or more of the packages are damaged or misplaced.
3) Most of the shipping companies have the insurance amount built into the aggregate shipping amount, so it does not require any extra paperwork and hence is easy to avail.
4) Logistics companies may have a limited liability policy when it comes to cases of damaged/lost goods. So buying additional insurance for item specific shipments will contribute to reducing the stress of lost goods.
5) During long-distance shipments, the probability of loss of goods increases and most of the shipments will be high profile and high priority orders. If these products do not reach the destination on time, it can cause major setbacks to the company providing the product.
6) When there is a bulk order for international shipments, taking insurance for a group/package is extremely advantageous as they are available for all the countries. When a group box is placed, regional private insurance companies will help in providing insurance in locations where other insurance companies cannot provide. Therefore shipping orders become hassle free and profitable no matter what.
7) There is always a chance of the transport goods ships getting toppled/damaged by severe weather or catastrophic events such as tornadoes. Also, the possibility of pirate attacks loom over some areas of international waters and can cause loss of valuable goods. The probability of occurrence of these events indicates the need for insuring products.
8) Consumers too prefer e-commerce websites that have a comprehensive insurance scheme for the products. It gives them a reassurance about the website and is more likely to come back to avail the services of the website again.
9) Insuring e-commerce products can cover many disciplines like:
- Transportation Coverage
- Contents Coverage
- Worker Compensation
- Directors and Officers Insurance
- Intellectual Property Insurance.
This is an advantage that can save the company precious time and effort.
10) Insurance of goods also enables e-commerce websites to expand their reach in the global trade and makes sure that their profits increase substantially.
With such far-reaching benefits available, e-commerce websites can only gain from insurance of their products. So, next time when you ship to make sure you insure eCommerce shipments.