There is nothing much annoying for a clientele than persistently waiting for their deemed product item to reach the destination to strike and open the package to identify that it has been blemished during the transit. It implies that it is high time for you to be covered under postal parcel insurance.
There is an enormous peril of purchasing online, and a valid underlying cause of delivering postal parcel insurance to your clientele becomes a dire necessity.
When you are equipped with postal parcel insurance, in the first place, you can convince your customers for a timely substitute delivery for their damaged product item. And as a seller, you need not have to grab out of your pocket to compensate for the defective product item delivered to your customer.
Is postal parcel insurance a worthy kind of investment? And who bears the cost expenses? This article discusses the three primary and most common concerns and questions about postal parcel insurance.
1) What is Postal Parcel Insurance?
Postal Parcel Insurance envisages the cost expenses of damaged, lost or defective deliveries. It is extensively classified into three fundamental categories:
a) Postal Parcel Carrier Insurance:
This aspect of insurance is delivered by your shipping company. It may consist of part of their delivery estimate or compensate for as an optional add-on.
b) Postal Parcel Third Party Insurance:
This is the prescribed aspect of shipping insurance offered by an outside insurance company. It inclines to be utilised for international shipping or for delivering high-end premium quality and highly valued goods.
c) Postal Parcel Self Insurance:
This type of insurance occurs when the seller himself undertakes charge and accountability for damaged, obscured, lost and defective goods and would reimburse replacement costs for the buyer.
2) When does the need arise for Postal Parcel Insurance?
It is indeed a commendable thought process to procure postal parcel insurance when you are about to ship high-value or fragile product items. Majorly courier companies deliver comparatively affordable shipping insurance, which may be ultimately borne by your customers as a component of the delivery estimate or being chosen as an additional add-on feature. It runs down to a cost expense versus risk analysis. That is the exact value and worth of your product item’s massive and large chunk. Simultaneously, the risk of damage is possibly sufficient to rationalise the cost expenditure of the insurance.
3) Who bears the cost expenditure of the Postal Parcel Insurance?
Majorly online retailers deliver postal parcel insurance to their clientele in the form of the compensated optional add-on, which the customers could opt-out of during the checkout process. Suppose you provide an all-pervasive and across-the-board free delivery.
In that case, postal parcel insurance can be incorporated in the delivery quote that is either envisaged by your profit margin or established into the total comprehensive price of the product.
Suppose you are about to ship low-value, hardy items. In that case, you might opt-out to provide for postal parcel self-insurance and envisage as well as reimburse any replacement cost expenses as an add-on inducement for your clientele.
Are you prepared to handle any damaged or defective product item when you strike open your parcel? Are you planning to get reimbursed with any of the replacement costs for any of your high-valued products in a blemished and damaged condition? If your answer is YES.
Then say YES to postal parcel insurance and get covered under its purview and take a sigh of relief and replenishment for your valuable product items.