Knowing when to invest your money and where can be a big challenge for business owners. With limited funds, it’s important to understand what will actually benefit you and what may be wasteful spending. When it comes to in transit insurance, it is worth your money to invest in the protection of your merchandise during the shipment process, as accidents do happen, and there is a potential for financial loss.
Do You Regularly Ship Goods?
If your business regularly ships goods, even short distances, then in transit insurance may be a good option. This type of insurance protects both the buyer and the seller of merchandise. While the goods are being moved from one place to the other, they are at risk of being damaged, lost or destroyed. This type of insurance provides financial coverage should an accident occur and the property need to be replaced.
What Is the Right Amount?
Determining the correct amount of insurance you may need is important. Typically, the policy that you choose should match the maximum value of the product being shipped, as well as the cost of freight and perhaps a 10 to 20 percent advance for other expenses.
In transit insurance is an important investment for many businesses, large and small. With the right policy, you can have peace of mind.