How Important Is Delivery Insurance For Large Items

Of the many changes brought about by the COVID-19 pandemic, one of the most noticeable is the shift to remote workforces across many major global industries. According to a June 2022 report from SupplyChainBrain, "in a recent survey by the U.S. Chamber of Commerce, 36% of middle-market companies reported having remote employees in Q4 of 2021 who weren’t remote pre-Covid. Nearly half of the companies polled said they’ve provided permanent full-time remote options, with another 42% considering the opportunity.”

With more businesses looking to remote work to cut down on the costly overheads that come with building maintenance and in-person workplaces, companies are reevaluating their ability to ship their employees the tools they need to get the job done. For many remote businesses, this can look like regular shipments of technology or other high-value, white-glove items.

As more and more businesses go remote, they're increasingly faced with the need for high-quality, on-demand shipping of expensive items. These items often represent a significant investment on the part of businesses. While they can be shipped through normal means, extra care is often necessary to ensure a package gets from A to B on time and safely. By investing in delivery insurance, businesses can avoid the costly mishaps and lengthy he-said-she-said of missed or damaged deliveries.

The need for delivery insurance means that shippers who offer delivery insurance, paired with flexible, accountable logistics, can stand out from the pack in a crowded logistics marketplace. An API-enabled (Automatic Programming Interface) delivery platform enables shippers to offer businesses the accountability and flexibility they need while helping them build a stable, reliable customer base.

What Is Delivery Insurance Anyway? 

In short, delivery insurance covers the cost of lost or damaged goods. As with other types of insurance, the more expensive the insured item is, the more vital it is to have insurance. For businesses attempting to bolster their remote workforces, insuring their technology assets, which can easily represent a business investment upwards of a thousand dollars, is essential. For expensive, white-glove deliveries of furniture and technology, delivery insurance isn’t just a wise investment; it’s a business necessity for last-mile delivery.

However, delivery insurance isn’t exclusively for high-profile catastrophes like accidents and theft; it’s a policy that covers a broad range of logistics mishaps, including more run-of-the-mill delivery slowdowns like misallocation and issues at distribution. Flexible insurance policies, offered as part of an integrated API (Automated Programming Interface), can help businesses face logistics challenges without worrying about the bottom line. Shippers who provide on-demand, insured deliveries can offer their customers the best logistics accountability and protection, helping them stand out in a crowded logistics marketplace.

Insurance Helps Shippers Avoid Delays With Border Crossing

With wait times at the U.S.-Mexico border recently “exceeding five hours at some crossings,” according to FreightWaves, it's more important than ever for businesses to treat slowdowns at international border crossings as a rule rather than the exception.

These delays can represent massive blows to the bottom line for businesses dealing with perishable or heat-sensitive goods. An entire truckload of spoiled fruits and vegetables can mean thousands of dollars in lost revenue, and a heat-damaged computer can present a costly proposition regarding employee productivity.

Shipping insurance, offered as part of a tech-enabled logistics platform, can help businesses avoid these budget pitfalls at the border, allowing them to approach the unknown more accurately than ever before. These on-demand delivery platforms allow shippers to offer their customers unprecedented visibility in logistics, meaning that businesses can see shipping snafus before they occur, allowing them to reconsolidate and maximize their logistical efficiency.

Gives Shippers Financial Backing to Manage Cashflow

According to Pitney Bowes, there were 131 billion parcels shipped worldwide in 2020. The figure tripled in the past six years and is expected to double again in the next five. This represents a massive investment in parcel shipping across nearly every industry. In other words, fast, effective parcel delivery has become a standard operating procedure across much of the economy. However, this investment often comes at a cost. Shipping, especially last-mile delivery, takes place in the real world. Real-world shipping means real-world logistical crises, which can quickly result in massive revenue drops or business compensation costs. To prepare for these costs, businesses that regularly work with parcel delivery services often feel uncertain about expenses and nervous about the inevitable expense of missed or damaged deliveries.

Delivery insurance takes the danger out of delivery in the last and middle mile. Comprehensive delivery insurance, offered through a tech-enabled courier service, means that businesses with extensive need for on-demand delivery can reallocate their disaster funds toward more essential parts of their operations, such as staffing and infrastructure.

Delivery Insurance Compliments Delivery Tracking Services

Although delivery insurance is a vital component of any business’ delivery strategy, it’s not the end-all-be-all of high-tech logistics. Instead, delivery insurance should be considered an essential component in a business's logistics toolkit.

Often, insurance requires extensive records, including delivery receipts throughout the logistics process. Traditional maintenance of these records can result in lengthy paper trails and, worse, lost documents. In insurance proceedings, a single lost document can mean the difference between a win and a loss. With integrated documentation storage and organization, shippers and businesses can avoid the uncertainty of the insurance process with instant access to any document.

Beyond insurance, businesses that implement GPS -based fleet tracking strategies see a staggering 42% decrease in safety incidents and a 54% increase in customer satisfaction. For shippers and businesses, reducing safety incidents and increasing customer satisfaction is a win-win.

Partner With GoShare Today and Make the Most of Any Insurance Policy

Businesses are shipping more goods than ever, and shippers are eager to meet their demand. But with real-world logistics come real-world delivery hazards. Shippers and companies can face the open road without fear by partnering with a fully-insured, high-tech delivery platform. GoShare, a tech-enabled, API-focused courier delivery platform, can give businesses the visibility they need to avoid logistics snafus and ensure they're protected when crises occur. Book with GoShare today, and see what full accountability in logistics can offer your business.

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