ParcelPedia Podcast

Safeguarding Shipments: Insider Tips from James Banks

• James Banks • Episode 5

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Do You Offer Insurance Options For Packages? How Do Customers Decide If They Need It?

Ever wondered if package insurance is worth the hype? Join us on the ParcelPedia Podcast as James Banks, our insightful host, alongside co-host Sophia Yvette, demystifies the world of package insurance. Discover the FLAV guideline—fragile, large, awkward, or valuable—and learn when insuring your shipments is a savvy choice. James shares his expertise on how to achieve peace of mind, especially during the gift-giving season, by ensuring your cherished parcels are protected. Find out the often-overlooked benefits of insurance, not just covering shipping costs but safeguarding your precious items against damage or loss.

In this episode, we also tackle the less glamorous—but crucial—topic of claims and insurance limits. James offers a no-nonsense look at the paperwork required by carriers like FedEx, UPS, and US Mail, shedding light on how you can avoid common pitfalls. With tips on presenting proof of value and insights into the swift, customer-friendly claims processes, this episode equips you with the knowledge to navigate package insurance like a pro. Tune in for a session packed with practical advice and expert insights, all designed to protect your shipments from potential mishaps.

To learn more about ParcelPedia visit:
https://www.ParcelPedia.com
ParcelPedia
8992 Preston Road, Suite 110
Frisco, Texas
972- 335-1450

Speaker 1:

Welcome to the Parcelpedia podcast, the ultimate guide to all things shipping and business services in Frisco, texas, from US mail and FedEx to private mailboxes and packing supplies. We've got you covered. Stay tuned for a special discount code to save on your next order. And now delivering expert tips and insider insights with a smile, here's your host, james Banks. Owner of Parcelpedia.

Speaker 2:

When it comes to valuable shipments, peace of mind is priceless. James Banks explains the ins and outs of package insurance and helps customers assess whether it's worth the investment. Welcome back everyone. I'm Sophia Yvette, co-host, slash producer back in the studio with James Banks. James, how's it going today?

Speaker 3:

Hi Sophia, I'm doing well. How are you?

Speaker 2:

I'm doing good also. So, James, do you offer insurance options for packages? How do customers decide if they need it?

Speaker 3:

Yes, definitely so. All the carriers that we have an account with, that we work with, they all offer insurance. As far as choosing when to pick an insurance, we have a little saying here at Partialpedia. Where it is is your package have FLAV, f-l-a-v and that stands for either fragile, large, awkward or valuable. If it's one of those things, there's a good chance you want to take out some insurance. You don't always have to do an enormous amount or exorbitant amount, but just enough to cover you. Sometimes that will just help the package carrier realize that they're handling an insured package and kind of keeps it in the back of their head to take more care of it as well. It just helps to get to the destination and in the case that something does go wrong worst case scenario you have that insurance to back you up to cover the cost of your shipment as well as the cost of the item. I think that's something a lot of people don't realize that most carriers offer insurance to cover not only the shipping costs but also the cost of the items that may be damaged, lost or broken. So I think it's a good idea, especially this time of the year.

Speaker 3:

You know you're sending gifts. Sometimes they're very sentimental, customized people. You know those precious gifts you really want them to get. You want them to get their safe and you want them to get there with some insurance. It doesn't have to be the highest limit of $10,000, but you can do 50, 120. And that's. That's the beauty of it. You can do any amount. It's your choice as far as the amount you take out.

Speaker 2:

Now what type of packages or contents typically benefit most from insurance coverage?

Speaker 3:

For sure. Fragile items, glassware, ceramics, china things of that nature. I mean you can pack them as well as you can, but vibration alone can still cause cracks, chips. So you want to take out insurance on things that are very likely to break, especially if they have high value. You'd hate to invest a lot of money in an item to send it somewhere, just for it to not arrive in one piece. Insurance is always a good idea if you want to have that peace of mind. You need something off for the first time, something to be repaired, something that you sold I mean that's another huge thing. You've already got someone's money. You're hoping to send them something in one piece. You want it to arrive and have some insurance.

Speaker 2:

Most definitely, and are there any limits or exclusions on what can be insured and how the claims are processed?

Speaker 3:

Yes, so insurance. One thing to keep in mind they are not just writing checks, as far as when I say they, I mean the carriers FedEx, ups, us Mail. They will have you do some homework, so they're going to ask you for proof of value, they're going to ask you for receipts. They have to at least know that the insurance you took out does actually cover what you sent. Otherwise, people would be sending pebbles and rocks and saying they're worth $10,000 every day, and that wouldn't work out. So we definitely have to have just the proof. As long as you have that, I mean, they're very good about it. They're fast, they'll send the payment directly to the customer. It's really great. I mean, it's not a situation you want to end up in, but if you do, you do want to have that backup and have that assurance that you know at least I got my money back. You know I'm not out of item and money.

Speaker 2:

And how do you determine the appropriate value to insure a package for speaking of?

Speaker 3:

So when it's something that was very clear-cut, just purchased it and sent it as a gift. Just the item value, even if you throw the receipt in the box that actually you'd be amazed by how fast that speeds up the claims process. But having a receipt or an invoice of paying it, that's the best way, just going off of that number. However, if it's something that's been in the family for a long time, an heirloom, you can use an appraisal as well as your proof of value. So if you ever had anything appraised or you have an idea of the valuation or something similar that's sold in stores currently, you can use that amount. You just don't want to get too crazy, to where you can't really back it up, because they will ask you to back it up.

Speaker 2:

Most definitely so if I'm shipping, let's say, a priceless macaroni art project, is insurance mandatory or is it just a really good idea?

Speaker 3:

It is a good idea if it is priceless. That macaroni art probably took a good amount of time. It may have been done, started before nap time and finished after, so you know that's precious time right there. So you may want to share it for, at least you know, five to $500. It's your choice. But again, if that macaroni cracks you have to prove to FedEx, ups or US Mail that that priceless macaroni is priceless, as you say.

Speaker 2:

How much should I insure a box of snacks for replacement costs or emotional worth?

Speaker 3:

Replacement costs. If you got to insure it, that's what they'll pay you for Love it.

Speaker 2:

James, We'll catch you in the next episode. Have a fantastic rest of your day.

Speaker 3:

All right, you too, sophia Thank you so much.

Speaker 1:

Thanks for joining us on the Parcelpedia podcast. Don't forget, mention podcast at our store to snag 10% off select shipping services. Stop by at 8992 Preston Road, Suite 110, Frisco, Texas, or give us a ring at 972-335-1450. We're here to make your shipping a breeze. Until next time, keep shipping and smiling.