Don’t let insurance fall through the cracks

Alice is rushing back home after doing the morning school run. As she crosses the street, she steps in a puddle. “Great, that’s just what I need this week!” she grits between her teeth. Alice shakes off her foot and opens the door to her home office, a California chic space with walls lined with colorful designs of yoga supplies. Yoga mats, pillows and blocks, all thoughtfully designed by Alice. She is still buzzing about starting her own yoga supply business. Today, however, she’s in for a nasty surprise.

Alice has found out there’s been a fire at the UK warehouse of her fulfilment provider. Some of her inventory has been destroyed and now, Alice is in trouble. There were so many things she needed to do to set up her business and she hadn’t gotten round to the insurance, it had found its way to the bottom of an endless checklist.

She lost a significant amount of stock this time and there’s nothing she can do about it. But Alice resolves never to make the same mistake again.

Alice has a look online and realises in some ways she has been lucky. She has been operating her business for almost a year and has not encountered any of the problems some retailers are unlucky enough to face that ship their goods. Problems such as damage to goods caused by natural disasters, water damage, theft, falling trees and telegraph poles, rodents as well as loss in an airport or at sea. An average of 1,390 containers are lost at sea each year!

Alice opts for both Storage and Transit insurance. This ensures that her products are insured both in the warehouses that her goods are kept in, when they are being transported to and from warehouses and when they are transported to their final recipient. Alice lets out a sigh of relief as the stress melts away.

Don’t be like Alice. Protect your products by choosing the right insurance. Borderless 360, a global fulfilment platform, can offer advice to e-commerce retailers on what type of insurance they might need to ensure goods are fully covered wherever they are in the world.

Contact our Sales Team if you’d like to know more.