If a company doesn’t have experience shipping things with a courier, they usually ask right away what their responsibilities are as far as insurance goes. In most cases this isn’t something that they have to spend any additional money on. For most courier companies, the cost of insurance is built right into their shipping prices. The average Chicago courier service is going to have very good existing insurance which should cover the goods in the event of almost anything happening which would cause a loss to occur.
The insurance carried by courier companies is usually very good. Although packages don’t get damaged very often, the truth of the courier industry is that there are a lot of different things which could go wrong that could cause financial losses to the courier company’s clients. Most of these things are going to be insured against by the courier insurance that they carry.
Packages can become lost in a number of ways. When they are being transferred between trucks during LTL shipping, they can end up on the wrong truck and go to the wrong city. They can be lost in warehouses. They can also be delivered to the wrong address. All of these situations are usually insured against by the standard insurance carried by most courier companies.
There is also insurance that covers most of the things which might cause damage to occur to the packages. This would cover things like when a courier drops a package or sets a heavy package on top of a light one, crushing the one package. It also includes situations where a courier vehicle is in an accident and packages become damaged. Fire and smoke damage are typically included, as is damage from weather like rain. Vandalism and theft are also included in most of these policies.
Generally speaking, there is usually more than enough insurance coverage on the average courier shipment. Almost everything that could go wrong is insured against in some way, and the values of the insurance that are provided are more than enough for almost everyone that is shipping with a courier company. There are rare exceptions when a company ships something which is extremely valuable. Certain things could certainly exceed the maximum coverage provided by courier insurance. In that situation, a company would need to look into their options for adding more insurance on to their shipment. They may be able to do this through the courier, or through their own insurance company.