When you make or manufacture a product, you need a way to get it to your customers. In most cases this involves the use of a courier company or transportation firm of some description. Now, while those goods that you make are on your property, you likely have them insured under a number of different policies. However, most, or all of those will become invalid when your Chicago delivery service comes and makes the pickup of the order to ship out. That is why many people wonder if they need to buy insurance for their courier as well.
Usually this isn't going to be an issue because of the laws surrounding how a courier company must operate. Couriers have to have a lot of insurance in order to be in the business. One of the types of insurance that they must have is a policy which is going to make sure that your goods are insured while the courier is in possession of them. They're insured by your while on your property, by the courier while in transit, and once delivered are the responsibility of your customer.
This type of insurance is fairly comprehensive in the type of damage that it protects against. If your goods were stolen or damaged by vandals you would be covered. If your packages were lost or damaged by a courier due to dropping or other negligence you would be covered. You would also be covered in the event that the package was damaged somehow due to a traffic accident involving the courier vehicles.
The only time that you have to worry about insuring your shipment involves that actual valuation of the insurance that the courier may be carrying. When you fill out your forms to ship something with a courier company, you'll be asked to fill in a declared value. This is the amount that you are saying your items are worth. However, there will be a maximum declared value, which is the most insurance you would be able to claim regardless of your shipment's actual worth.
If the actual value of your shipment was a lot more than the maximum declared value, you may want to buy insurance for your shipment. The insurance values carried are based on the value of the majority of packages which are shipped, so in most cases, you should have enough insurance. If you're in a business that ships high value items though, you may need another policy.
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