Yakit Shipping Insurance - how does it work?

1. Introduction

Yakit delivers shipments from a Merchant's warehouse to a Buyer.  Merchants pay Yakit for its delivery service.

Yakit supports B2C (worldwide) and B2B (in some geographies) shipments.

Each shipment is insured by Yakit to the Value that is declared to Yakit during the shipping process.  Shipment insurance begins when the shipment is Dispatched from the warehouse and ends when it is received by the Buyer.

Shipments are typically a box or container such as a polypack (in the case of B2C shipments) with one or more items.

  • B2B: USD 5000
  • B2C: USD 2000

Yakit does not accept for delivery shipments over the above declared Values. If the Value of the contents of a shipment exceed the above amount, it needs to be split into multiple shipments.

2. What is insured?

Yakit insures each B2B and B2C shipment for

  • loss - shipment has not reached the Buyer,
  • damages - shipment reached the Buyer but was damaged or its contents were damaged in part or entirely,
  • shortage - one of more of the contents of the shipment were missing.

In the above cases, Yakit will refund:

  • Declared Value
  • Shipping Cost (apportioned for partial loss)
  • Duties and Taxes (apportioned for partial loss)

3. Claims process

When Yakit Tracking determines a shipment has been lost, Yakit will automatically intitate the claims process.  No information is required from the Merchant.  This is our hassle-free claims process.

However, when Yakit Tracking shows a shipment as being delivered and the Buyer reports a loss or damage, immediately after a loss or damage is discovered by the Buyer, Merchant must report to Yakit with the following information:

  • Shipment ID
  • Order ID
  • Description of contents
  • Delclared Value of goods
  • Photographs if damaged or shortage
  • Written and signed affidavit claiming loss and authenticity of claim from the Buyer (Yakit to provide template)

Yakit will file a claim as follows:

  • For lost Yakit Box - 30 days after ship (Yakit “Dispatch”) date
  • For damages and shortage - immediately after claim is filed by Buyer

4. Claims resolution

  • Yakit will reimburse the Buyer for the declared Value, shipping charges and duties/taxes paid within 15 days after a claim is filed.

If you have further questions, feel free to press the Y-Chat button and ask us. Happy Shipping!