Insured couriers

[jrixn1]

On 21/01/2023 at 11:01, CookPassBabtridge said:

I have often wondered how the manufacturers and shops are covered when sending their stuff through the post though. I guess they must have some kind of special arrangement/contract with their courier of choice that covers them, because of the volume of items they send and the amount of business they bring. 

 

The cost of insurance is always going to be more than the expected value of loss/damage - the difference is how insurers make money.  The shops could be getting a special deal like you say, but I also wonder (and this is just a guess) if they just send them uninsured because of the volume that they're trading.  If they are turning over £1,000,000 of basses, it's going to be cheaper to write off £5,000 of lost basses versus paying £10,000 of insurance.

 

It's different if you're an individual and only buying a couple of basses per year - i.e. if you are the unlucky 1 in 100 person whose bass goes missing and can't afford to take a £700 hit because you needed that money this month to fix your broken car etc.

[CookPassBabtridge]

17 hours ago, jrixn1 said:

 

The cost of insurance is always going to be more than the expected value of loss/damage - the difference is how insurers make money.  The shops could be getting a special deal like you say, but I also wonder (and this is just a guess) if they just send them uninsured because of the volume that they're trading.  If they are turning over £1,000,000 of basses, it's going to be cheaper to write off £5,000 of lost basses versus paying £10,000 of insurance.

 

It's different if you're an individual and only buying a couple of basses per year - i.e. if you are the unlucky 1 in 100 person whose bass goes missing and can't afford to take a £700 hit because you needed that money this month to fix your broken car etc.

Yeah I think you could be right, retailers may be willing to ‘write off’ any damages given the volume of instruments they sell. Perhaps they consider it in their overall pricing and annual turnover.