Insurance is an important facet of shipping, especially if you’re dealing with high-value goods. However, couriers don’t always offer the best (or most cost-effective) insurance solutions. That’s where Easyship can help. We offer up to insurance coverage of up to $5,000 for any shipment. And, if you need to file a claim, we try to handle this within seven business days. The best part, though, is that you can get exactly the insurance coverage you need with our recently-introduced insurance settings.
In the past, Easyship always used a shipment’s total value as the default for calculating insurance costs. The total value included the shipping costs plus the defined product value. That way, should something happen to an insured shipment, the user would be able to claim for and receive 100% of the total cost.
However, we realized that this solution didn’t work for everyone. No business is the same, and therefore no insurance needs would be the same. This calculation resulted in some clients overpaying for insurance because the real value of their products was less than the “Customs Value,” or the value of the product declared to customs for international shipping. That’s why we introduced flexible insurance settings that would allow you to set how your shipping insurance is calculated.
Easyship users now have three ways of calculating their insurance.
- You can choose to insure for just the selling price of the item (this is great for high-value shipments).
- For less valuable shipments, you can choose to insure this for a set percentage of the selling price.
- Finally, you can set your own price as the insurance value.
In addition, you can decide whether you want your insurance to cover your shipping costs or only the product value. We would always recommend that you cover shipping costs as it means you won’t be out of pocket if something goes wrong. But, we understand that some users want to lower their upfront insurance costs as much as possible - while still getting the peace of mind that comes with insurance - so we decided to offer some flexibility with this.
While all this offers many choices, there is one caveat. You have to set your insurance preferences in the “Settings” section of your dashboard, and it will apply to all shipments processed through your account. If you don’t, your shipments will be insured using the default calculation method, which is the shipping fees plus the full item selling price.
How Will This Feature Help Easyship Users?
The immediate effect will be that users will be able to find more affordable insurance solutions. We wanted to make sure our customers are comfortable insuring their shipments at the best price, and this is what we came up with. International shipping can be tricky, especially with so many cheap solutions out there and the fact that most couriers have a long, cumbersome claims process. Our insurance provider, InsureShip, is cheap and highly efficient, so we’re confident that this offers greater flexibility and service for our users.
So, Will I Really Be Able to Save on Insurance Costs?
The answer depends on what goods you’re shipping. Some users will save quite a lot of money if they’re selling goods with a very high markup, such as jewelry. But this is about more than just cost. It’s important to be comfortable about insuring your shipments. Having your parcels lost or damaged in transit can be very frustrating - and it can also be very damaging for small businesses who stand to lose a lot if just one parcel gets lost.
A Step-By-Step Guide to Setting Up Your Insurance Settings
Convinced that flexible insurance is for you? Great! Here’s exactly how to set this up on your Easyship dashboard.
- In the sidebar, find “Settings” and click on the “Insurance” section
- Select your preferred insurance calculation option and fill in all the necessary details. Don’t forget that by default, we select “Use Selling Price” and “Include shipping cost coverage” for you
- If you turn off the “Recalculate the price of all shipments affected by these changes” option, the changes you make will only be applied to future orders imported to Easyship, not the ones you have already synced in the “Advanced Shipments” section.
- “Click “Save” to apply your changes
Pro Tip: By default, insurance will not be added to your orders when you import them to Easyship. You should go into the “Shipping Rules”’ section (under “Settings” > “Shipping Rules”) and make a new rule to always apply insurance to your shipments. This way, you won’t have to add this every time.
Save With Easyship’s Flexible Insurance Settings!
We’ve revamped our insurance settings to help our users get exactly the insurance coverage they need. This can also help them save money if they don’t need full coverage for the shipments they send. Have a look through the settings and see what works for you. Don’t forget - you can always contact our support team if you need a little guidance!