For most people, insurance is an inescapable aspect of everyday life.
Whether it’s home, auto, or life insurance, most people either choose to, or are required to, protect their most important assets.
In business, it is rarely any different. Even the smallest brands will often get some form of insurance for their business.
What many business owners seem to neglect, however, is shipping insurance.
Even when you ship with the industry’s most reputable carriers, occasional problems may arise unexpectedly during the shipping journey.
This can not only have a negative effect on your customer experience, but on your profit margins as well.
Still, the question of whether shipping insurance is a necessary expense is one asked all too often.
Let’s explore some of the reasons why shipping insurance is a worthwhile investment for any eCommerce professional or business..
1. Shipment Security
Sadly, it’s not unheard of for loads to be damaged, lost, or even stolen while in transit.
For most goods, carriers offer their own insurance to cover such instances for their customers. This however doesn’t always cover the cost of goods, especially high-value goods.
For that reason, additional carrier insurance or third-party insurance providers are often used to provide additional security when shipping high-value items.
2. Confident International Growth
Expanding your business overseas is a huge step for any small business owner, but the prospect of handling lost, or damaged international shipments could cause some to stand idle for fear of hurting their brand and profit margins.
The good news is that many shipping insurance providers offer protection that covers domestic, cross-border, and international shipments, giving you the peace of mind to build your brand beyond your borders.
3. Company Reputation
Every eCommerce retailer’s worst nightmare is for their customers to receive an order that was damaged in transit, or worse was not received at all.
As we discussed previously on this blog, providing a timely resolution to a poor customer experience is crucial to long-term growth and customer retention.
Whether this means providing your customer with a replacement or a refund, rectifying the issue quickly can mean securing your customer’s long term.
By using shipping insurance you can confidently smooth any wrinkles caused by a shipping mishap, and mitigate any potential losses in revenue.
Not only can you recoup the loss of having to send your customer a replacement order, but you can also strengthen your brands reputation by turning a negative experience into a positive experience.
4. Peace of Mind
When all is said and done, the key takeaway is that using shipping insurance gives business owners peace of mind and a competitive advantage.
Even with the most scrutinous checks and balances in place, it is simply impossible to guarantee that every shipment will make its journey free from incident, and these incidents can easily snowball into much larger problems for your business.
Knowing that your shipments are protected from unforeseen forces and events means that you can spend less time and energy worrying about how to manage these events when they happen and free up time to focus on other areas of your business.
Ensure Your eCommerce Shipping is Top-Notch with ClickShip!
Shipping insurance is a wonderful way to keep your peace of mind intact while your shipments are in transit.
But for peace of mind during every part of the eCommerce shipping experience, ClickShip is there for you!
We partner with North America’s leading LTL and parcel carriers and integrate with leading eCommerce platforms and marketplaces to offer you better rates on all your shipping, in real time, directly at checkout, all for zero upfront and monthly fees!
Contact one of our shipping experts today and let ClickShip help you give your customers the experience they deserve!