5 Things You Should Know About Insurance For Package Delivery
What is Insurance for Package Delivery?
Normally, courier service providers only provide liability coverage for up to MYR 200. Insurance for package delivery is a form of insurance, usually offered by the insurance company, that covers the cost of replacing or reimbursing the value of lost, stolen, or damaged items that are being shipped through courier service providers. This can be purchased for an additional fee.
The amount of coverage and the cost of the insurance will vary depending on the insurance company you opt for and the value of the items being shipped. You also must be aware that some courier service providers may also have specific requirements for what types of items are eligible for insurance coverage and may require that the items be packaged and labeled in a certain way.
Are Deliveries Insured?
Yes, they can be insured, but it depends on the insurance company and the type of service being used.
In the meantime, standard courier services only cover the liability of up to MYR 200, so it’s important to buy additional insurance coverage if your shipment value is more than the liability covered.
Should You Get Insurance for Packages?
It is advisable to do so when the items being shipped are high-value or irreplaceable to ensure that they are protected in the event of loss, damage, or theft. If the item is low in value or easily replaceable, it may not be worth the cost. Plus, if you are using a shipping service that has a good reputation for delivering packages safely and on time, the risk of loss or damage may be lower and insurance may not be necessary.
On the other hand, if the items being shipped are of low value or easily replaceable, the cost of insurance may not be worth it. Additionally, if you are using a shipping service that has a good reputation for delivering packages safely and on time, the risk of loss or damage may be lower and insurance may not be necessary.
Whether or not you should get insurance for a package depends on the value of the items being shipped and the level of risk involved in the shipping process
What Does Package Insurance Cover?
Package insurance typically covers the cost of replacing or reimbursing the value of lost, stolen, or damaged items while being shipped through a delivery service. The specific coverage will vary depending on the insurance company and the type of insurance policy purchased.
The coverage offered, is not limited but includes:
- Loss coverage: This covers the cost of replacing items that are lost during the shipping process.
- Damage coverage: This covers the cost of repairing or replacing items that are damaged during the shipping process.
- Theft coverage: This covers the cost of replacing items that are stolen during the shipping process.
Additionally, some insurance policies may have limits on the amount of coverage provided for each item. It’s important to check the terms and conditions of the insurance policy and to understand what is and is not covered before purchasing insurance for package delivery.
The Best Insurance for Package Delivery
Delyva Insurance Coverage Package
DelyvaNow courier partners offer liability coverage of up to MYR 200-MYR 300 depending on which courier service providers booked for any packages that have been picked up/collected by our riders that are damaged or lost (depending on the courier service you selected).
You may also purchase additional insurance premiums for as low as RM1. Learn more on how to purchase insurance.
How Are Your Shipments Insured by Delyva?
During completing the details in the Delyva app, just follow these two steps.
- Indicate accurately the item invoice value with the item description and as details as possible (brand, specification, type, etc.) on the Item Page.
- Tick the Insurance box in Add Ons section and key in the value of the item. Please ensure item value is properly declared as this affects the sum of value insured. Insurance coverage is provided by Zurich Malaysia.