Having delivery insurance done for logistics services is very important. In case you have not yet done the delivery insurance done, it becomes highly important since it not only helps in consumer protection but also enhances the quality of service. The credibility of the logistic service company increases when there is delivery insurance to protect your goods.
If you are having a logistic service in New York, you must get the best delivery insurance New York for your logistic service. It enhances the service quality of your business such that the customer and sales increase. Insurance to your business also keeps you aware of the law and regulations and keeps yourself safe against any litigations.
In this article, we shall explore the important points you must know while selecting a delivery insurance company.
Points to note while selecting a delivery insurance company:
- Coverage of the insurance: Clarity about the losses which will cover under the insurance are very important. Check if the insurer protects the goods from theft, breakage, and accidents. It is also important to assess the potential loss which your business can make, thus enhancing your premium amount to cover the maximum potential losses.
- Areas covered: It is also important to note the areas that will cover geographically for losing your service. It helps you to plan your business locations such that you don’t end up taking too many risks in your business.
- Waiting period for coverage: The losses encountered during the transit becomes an additional cost for you initially. It would cause the loss of free cash. Yet, if the insurance company has a lower cost covering the period, it shall help you expand your business. The growth of the business is possible through the free cash in the balance sheet, hence it becomes highly important.
- Types of the products covered: An awareness about the wide variety of products which are covered under the insurance is also important. Knowing the products that are covered will help you plan your list of goods that you will transport for your clients. Thus, the coverage of products becomes important.
Statistics about delivery accidents:
Over 99 thousand drivers from Fed Ex have are reporting to have faced the carriage accidents during transit. Losing the goods has hampered the reputation of the FedEx, thus making delivery insurance an integral part of your logistic service.