Why Package Insurance and Protection Matter for Your Business

April 20, 2023

by Olivia Qin

All shippers know that delivering packages safely and securely is essential for keeping customers happy and coming back for more. But with theft on the rise, it can be tricky to do well! With more and more people wanting safe, secure delivery, it's super important to make sure your shipments are protected from loss, theft, or misdelivery. Here are some tips on how to protect your packages against theft or misdelivery.

#1: Use Package Insurance to Keep Your Shipments Covered

There are always a ton of questions surrounding package insurance. Here is a quick look at some of the most common.

What does package insurance cover? Package insurance usually takes care of loss, theft, and damage while your package is on its way. Some policies even cover misdelivery, but that's not always the case. Make sure you read the fine print to know exactly what's covered and any exclusions that might apply.
Is it worth insuring a package? The value of insuring a package depends on the specific circumstances, but it is usually the wisest course of action. If you're shipping valuable, fragile, or irreplaceable items, it's definitely worth considering insurance to provide peace of mind and financial coverage in case of any issues during transit. However, for low-cost or easily replaceable items, the cost of insurance might outweigh the potential benefits. Ultimately, you should weigh the potential risks and costs before deciding whether or not to insure a package.
What's the best way to insure a package? To insure a package like a pro, choose a package protection plan that covers theft, delivery, loss, and damage. Also, work with a reliable carrier and use address verification solutions to reduce the risk of misdelivery.
How much does it cost to put insurance on a package? The cost of insuring a package depends on the provider and the value of the items you're shipping. Some insurance plans charge a small percentage of the product value, while others have a fixed rate per shipment. Shop around and compare different insurance providers to find the best balance between cost and coverage for your unique needs.

#2: Get Those Packages to the Right Place with Address Verification

Mistakes happen, and sometimes packages don't make it to their intended destination. In fact, a recent publication revealed that 4.56% of outbound volumeopens in new tab goes unreceived and undeliverable. That's where address verification comes in. By using an address verification solution, you can check the accuracy of your customers' shipping addresses and reduce the risk of misdelivery. It's a win-win for everyone!

#3: Pick a Trustworthy Carrier: It's All About Reliability and Security

Your choice of carrier plays a huge role in the safe delivery of your packages. Look for a carrier network that offers a variety of reliable and affordable options, with established tracking systems and a solid track record of delivering packages on time and in great shape. The right carrier can make all the difference in getting your shipments where they need to go.

#4: Grab a Signature for Extra Package Protection

Contactless delivery became popular during the COVID-19 pandemic, but it also increased the risk of package theft or misdelivery. One way to fight back is by using signature confirmation. This ensures your package is handed over to the intended recipient, instead of being left unattended on a doorstep or in a mailbox. It's a simple way to add an extra layer of security to your deliveries.

#5: Keep the Communication Flowing: Happy Customers Are Loyal Customers

Customers love to be in the loop, and clear, proactive communication can go a long way in keeping them satisfied. Surveys have shown that many consumers are more likely to purchase from a retailer again if they receive clear and proactive communication. So, aim for a support team that offers a quick response time, allowing you to provide timely support to your customers and keep them coming back for more.

How EasyPost Can Help

Prioritizing package insurance and protection is key to building a strong reputation and keeping your customers loyal. Don't let your business fall prey to loss, theft, or misdelivery – consider a solution like EasyPost for all your package insurance and protection needs. Why EasyPost?

EasyPost’s package protection offers comprehensive shipping insurance coverage that includes theft and delivery (along with lost & damaged) for only 0.5% of the product value.
EasyPost’s insurance support team has a guaranteed 24-hour response time so you could provide your customer the timely support they need.
EasyPost hosts a network of 100+ best and affordable carriers, and all of them have an established tracking system with a strong track record of delivering packages on time and in good condition.
EasyPost offers top-notch package protection, an address verification API, and integrations with multiple carriers and package locker providers.

Our insurance coverage and user-friendly shipping API can help businesses ensure the safe and secure delivery of their packages. By teaming up with EasyPost, you'll have the tools you need to optimize your shipping process and protect your precious cargo.