Extra Insurance
What is Extra Insurance?
Extra Insurance is an optional service provided by SMARTT Shipping that allows you to protect your shipments beyond the standard carrier liability coverage. Most motor truck carriers (LTL/ FTL) and small parcel couriers are bound by liability limits and may not fully compensate you in the event of loss or damage. Extra insurance gives you the opportunity to secure higher coverage limits based on the value of your shipments.
Why Should I Choose Extra Insurance?
At Complete Shipping Solutions, we understand that your shipments are valuable and often irreplaceable. We recognize that you also spend significant time and energy bringing your products to market. This is why we offer Extra Insurance – an additional layer of protection to give you peace of mind when shipping with us.
Here are some of the benefits when you choose extra insurance:
- Protect Your Investment: Extra Insurance provides an added layer of protection for your valuable shipments, minimizing financial risks and potential losses.
- Peace of Mind: Shipping goods can be stressful, but with Extra Insurance, you can have peace of mind knowing that your shipments are protected from the moment they leave your facility until they reach their destination.
- Reliable Support: Our experienced team is always available to answer your questions and provide guidance on insurance options and coverage limits. We are committed to ensuring that you make informed decisions to protect your shipments effectively.
Between Standard Liability and Extra Insurance
Standard carrier liability refers to the legal responsibility of carriers for the goods they transport. The liability limits are often outlined in the carrier’s terms and conditions, specifying the limits of their responsibility. Most carriers cover up to a maximum of $2.00 per pound / $4.41 per kilogram in the event of damage or loss. Often, this provision does not cover the full value of your shipment.
For extra protection, SMARTT Shipping offers extra insurance that will cover the true invoice value of your goods. This is of significant value to you, considering all the time, energy, and other costs that are put into your products. See below for a simple example showcasing the difference.
- Standard Liability: Up to a maximum of $2.00/lb or $4.41/ kg
- Extra Insurance: Total Invoice Value of Goods + Freight Charges
Due Diligence and Vested Interest
When purchasing extra insurance, it is imperative you understand your due diligence in the shipping of your goods. You must maintain a vested interest in the safe arrival of the shipment. The simple purchase of extra insurance does not guarantee that your shipment will be covered.
Your vested interest must include, but is not limited to:
Entering Accurate Details into SMARTT Shipping
- Correct address for both shipper and consignee
- Weight and dimensions
- All other details input into SMARTT Shipping
Proper Packaging Against Damage
- It must be shown that the packaging was sufficient to withstand the rigors of transport (see our Proper Packaging guideline for recommendations).
Proper Packaging Against Theft or Loss
- Packaging that does not bear a descriptive label or showcase information that describes or alludes to the nature of its contents.
Pre-shipment photos in ready-to-ship condition that demonstrate the condition of the package leaving the facility.
- The exterior of the shipment clearly showing the labels.
- The exterior of the shipment showing that the shipment was adequately packaged to withstand the rigors of transport.
- Inside of the shipment that shows how the item was packaged.
Proper Labeling and Adherence
- Labels must be adhered to the package in a protected way so that they are not damaged in transport.
Verification of Mailing
- Proof that the Carrier or Courier Accepted the Package for Transport
Signature Requirements
- Signature confirmation is required on all packages. When You deselect” Signature Required” or select “No Signature Required” for delivery by any Carrier, the coverage for such shipment will terminate upon delivery.
Compliance with Laws and Regulations
- Ensure you understand and comply to all of the laws within both areas that you are shipping from and to.
Deductible
There is a deductible of $150.00 USD if the value of the shipment declared and paid for is equal to or greater than $1000.00 USD. There is no deductible if the value of the shipment is declared and paid for, is less than $1000.00 USD.
Insurable Amount
There is a deductible of $150.00 USD if the value of the shipment declared and paid for is equal to or greater than $1000.00 USD. There is no deductible if the value of the shipment is declared and paid for, is less than $1000.00 USD.
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