Not many of us are familiar with the term courier insurance, leave alone knowing more about it. Any company that offers services such as the delivery of packages and products for a price needs courier insurance. This is equally true of the established names in the business such as
DHL courier service and the ones that are starting out. If you were operating a business that delivers important financial and legal documents within the city or operates a nationwide and international courier business, you would definitely want to have an insurance that protects the deliverables in case the package lands up in some sort of trouble.
The courier insurance policy will protect you from being held responsible in case some thing happens with the materials that the service is transporting, in case they are stolen or damaged during transit. The insurance policy offers coverage for the deliverables.
Apart from
DHL expressliability, the company offers financial protection to its customers in case of all kinds of damage or shipment loss triggered by an external cause.
Shipment Value Protection
Shipment Value Protection can be arranged by the company in case of both parcels and documents that need to be delivered on an urgent basis. There might be some limitations or restrictions that may apply in that case and these are dependent on the content and the destination of the shipment. The coverage begins right from the time DHL has possession or control of the deliverables until the time it is delivered. The coverage is provided for the damage or the loss of goods.
The Shipment Value Protection is applicable for goods that are in transit in any part of the world. There may be temporary restrictions applicable at regular intervals as a result of several factors and these might be the result of terrorist activities, war, political or nuclear risks or even at the suggestion of government officials. It may not offer coverage in the following cases:
- Ordinary leakage
- Damage or loss caused by a delay
- Regular delay
- Damage, delay or loss caused by incorrect packing techniques or faulty preparation of the package for the shipment
- Damage, delay or monetary loss caused as a result of the misconduct of the consumer
- Loss in volume or weight of the package or any wear and tear that the package suffers during shipment
Loss Settlement
The insurance coverage is restricted to the value declared by the owner of the package, the invoice value, actual cash value or the replacement cost, whichever of these turns out to have the lowest value. The owner of the parcel may be asked to provide evidence of the declared value.
When one or more than one shipment is covered by Shipment Value Protection, the sender is also entitled to a refund of the shipping costs.
When one or more than one shipment possesses coverage as per Shipment Value Protection and suffers damage on account of one event, then the highest average compensation for such shipments is restricted to Euro 10 million.
