Courier / Postage Insurance - Options

[NEF]

Hello guys I currently used DPD local for postage, they offer a couple of different insurance options. With the before 12 delivery option you receive cover upto the value of £1000 also with that package, there is also a separate option for extended cover for an additional £7 which then covers the parcel upto £5000.

I've been having problems with DPD and to be honest there service and attitude is going down the pan.

I've been offered some excellent prices with Parcelforce and the service and notifications, collections are basically the same.

My problem is, I sell a lot of items in the £1000-£5000 price range, they offer extended cover but it's £0.80 per £100 so adding this onto these items could prove very expensive.

I recall reading somewhere that some users had a separate insurance policy for cover of items when shipped by a courier service ? Is this something others do ?

Can anyone others who ship high value goods with couriers advise how they insure there goods ?

Many thanks

 

[Frank the Insurance guy]

Hi @NEF ,

Speak to your business insurance broker - they should be able to provide you with a quote.

Sometimes easier & cheaper to arrange 1 annual policy for all your shipments, instead of arranging insurance on each one.

 

[HFE Signs]

We looked at this several years ago, I'm keen to see the replies on this post. We suffer the same problems and the courier claims hardly ever come through. When we looked at a separate policy, it was more expensive than the goods we'd lost in the previous 12 months, so we decided to take the odd loss on the chin. I really hope someone has a sensible solution to this.

 

[DontAsk]

When we looked at a separate policy, it was more expensive than the goods we'd lost in the previous 12 months, so we decided to take the odd loss on the chin.

We generally self insure too, although a lot of orders are covered by the basic cover from RM.

We have one, uninsured, £1000+ shipment that is not lost but stuck at Heathrow since November. There's was a 50 min wait time when I tried to enquire by phone. All such are going by DHL in future. Four days door-to-door to California and cheaper than RM or PF. Insurance is only 1 or 2% of the declared value

 

[NEF]

Hi @NEF ,

Speak to your business insurance broker - they should be able to provide you with a quote.

Sometimes easier & cheaper to arrange 1 annual policy for all your shipments, instead of arranging insurance on each one.

Any recommendations ?

 

[Frank the Insurance guy]

Any recommendations ?

Speak to an Independent Insurance broker.

Happy to help and give you a quote - contact details in my signature below.

We looked at this several years ago, I'm keen to see the replies on this post. We suffer the same problems and the courier claims hardly ever come through. When we looked at a separate policy, it was more expensive than the goods we'd lost in the previous 12 months, so we decided to take the odd loss on the chin. I really hope someone has a sensible solution to this.

Insurance is usually most viable where there is a significant shipment value - A seperate insurance policy is no good for low value/volume products.

A number of my clients decide to self-insure, based on previous experience of losses - instead of buying insurance, they put a little away every month "just in case", which will cover the expected losses.

 

[Lawson@CBF]

We recommend all our clients get a policy that covers 'Goods in transit' for total stock value. This way the need to manoeuvre away from the courier's internal claims process is a godsend.

Most Independent brokers can test the market for you but we have seen a lot of success from a firm in Cheltenham called The John Morgan Partnership. They have created insurance policies for a number of our clients successfully.

 

[JEREMY HAWKE]

In my opinion It is best not to send any items with a value of more than 1K through the parcel networks

 

[DontAsk]

We recommend all our clients get a policy that covers 'Goods in transit' for total stock value.

Google only served up results that were for man and van type operations.

 

[Lawson@CBF]

Google only served up results that were for man and van type operations.

You didn't find the brokerage? https://johnmorganpartnership.co.uk/

 

[JEREMY HAWKE]

Google only served up results that were for man and van type operations.

That's why it pays to know your onions

 

[JEREMY HAWKE]

Towergate Insurance provide the type of insurance we are discussing here but you would still be taking a risk insuring freight through the UK parcel networks