Shipsurance will make sure your experience with the shipping carriers is as pleasant as possible. Even in a world where email reigns supreme, there are still times when we need snail mail: the replacement piece you ordered for your broken barbeque, the new shoes you ordered off Amazon.com for your nephew. As these precious or important items are traversing the world you want to know they’re safe. For that, there’s Shipsurance.
Shipsurance offers shipping insurance coverage. Their insurance coverage is for packages shipped via the major shipping carrier worldwide. Most shipping carriers already offer declared value coverage protection for their customers, but they are not regulated and their coverage is more of a warranty and not real insurance. They don’t completely protect your package with all-risk coverage. If you bought a product online from the likes of eBay or Amazon, Shipsurance offers protection for those shipments. If you are a seller and ship with FedEx, UPS or even the U.S. Postal Service, Shipsurance provides you coverage for packages shipped via those carriers. If a package is lost or damaged, claims are taken care of through Shipsurance in a rapid, expedited manner; usually paid within 5 days. You continue using the same shipping carriers that you are used to while Shipsurance works with both businesses and individual customers to offer coverage at a lower cost.
Shipsurance was established in 2003, but through acquisitions, has actually been around for about 30 years. Ariel Shmorak, one of the founders, recounts the birth of Shipsurance. A relative of one of the founder’s had been a freight forwarder out of a port in Los Angeles. This entrepreneur saw an opportunity for coverage, first for large cargo, and then for small packages as well. Shipsurance was born to fill this gap for small parcel shippers.
Now, this LA-based company continues to grow by offering discounted shipping insurance directly to businesses and establishing partnerships with companies who can integrate the coverage into their software offerings. “Over time, we realized that we can make the biggest difference working with partners who offer our coverage to their customers directly,” says Shmorak. Today, Shipsurance operates almost exclusively online, using software and technology to carefully monitor packages and keep the business growing.
While we expect our packages to arrive on time and in one piece we certainly notice when something goes wrong. Especially during the holidays, Shipsurance offers an even stronger service offering when millions of gifts are being shipped worldwide.
"People are shipping their gifts and buying items for their loved ones. There’s a lot of shipping volume,” explains Shmorak. “If something does happen, it feels good to take care of it quickly for our customers.” There’s a lot of relief in knowing that the Christmas gifts you carefully selected for your family can be covered in the event that they do not arrive safely. After all, those potholders with an embroidered image of a Wheaton Terrier that looks just like Sparky for Mom…well, those weren’t easy to come by.
Posted By Adam Fridman