Companies are now trying to insure your e-commerce packages

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Stolen packages are a significant problem in the U.S.

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According to Capital One research, in 2023, there were:

• 119 million package thefts (equivalent to 1 out of every 180 packages)
• Americans lost $13.4Bn from package thefts (average stolen package worth $112.30)
• Over 35% of Americans had a package stolen

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Even with improved technology, where the common ways to prevent stolen packages are by tracking packages and using video doorbells, the issue is getting worse and worse every year.

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Enter insurance companies. Insurance companies and startups are now trying to capitalize on this market opportunity to provide insurance for your products in exchange for an annual fee. I’ve seen prices around $130 annually for these new insurance products - a bit rich for me, but for those who buy everything online, it might be worth the price tag.