Why Shipping Insurance is More Trouble Than It's Worth

Shipping insurance is often touted as a necessary protection for businesses and individuals who ship goods. But let's be real, it can be more trouble than it's worth. Here are the top 5 issues with shipping insurance that will make you want to pull your hair out:

Limited coverage

Many policies only cover the value of the goods, and not the additional costs associated with shipping, such as customs fees or taxes. So, if something goes wrong during transit, businesses and individuals are often left to foot the bill for additional costs.

Difficulty in obtaining coverage

Some policies may exclude certain types of fragile or high-value items, or may not cover goods shipped by sea or air freight. This makes it difficult for businesses and individuals to protect their goods during transit.

Limited liability

Insurance companies will only pay out a certain percentage of the value of the goods, leaving businesses and individuals at a significant financial loss if the goods are lost or damaged.

Lack of transparency

The process can be opaque, making it difficult for businesses and individuals to understand the terms and conditions of the policy. This can lead to confusion and disputes in the event of a claim.

High costs

Insurance can be expensive, especially for businesses that ship a high volume of goods. The cost of insurance can eat into profit margins and make it more difficult for businesses to compete in the marketplace.

In conclusion, shipping insurance can be a real pain in the you-know-what. But don't worry, there's a solution! One way to adjust your refund policy is to include a delivery guarantee like ShipAid. This allows you to collect a pool of money you can use to cover your loss/damage/spoilage losses and even make a profit! So, say goodbye to the hassle of shipping insurance and hello to the peace of mind that comes with ShipAid.

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