Thursday, February 01, 2007

Insurance or Bonding

Here is a question that I hear all the time: "Are your drivers bonded?" I have been banging my head againt the wall for 8 years trying to figure out why people want the drivers to be bonded. I have finally decided that IT SOUNDS COMFORTING.

No person that ever asked me that question, could explain what bonding is, why they want it or the difference between bonding and insurance. They just know that they want a bonded courier.

We have all seen plumbers, electricians, etc. advertise that they are bonded right? Well, come to find out, that is a specific bond to their profession. It is called a "License & Permit" bond. There are no licenses or permits for couriers in Texas.

There are "Performance Bonds" and "Contractor Bonds". But, these bonds are for construction contractors and are meant to guarantee payment for materials and labor to subcontractors.

I spoke with two insuance companies (in different cities) about this. They both told me that there is NO bond that we could buy that would cover any customer in the event of theft, damage or loss.

Our commercail insuance policy includes a "Crime Package". This crime package covers all the things that customers are worried about.

So, when loking for a courier company, make sure you ask to see a copy of their insurance policy and make sure that it includes a "Crime Package".

JetStar Courier, Inc. - Dallas Fort Worth Courier Service

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