shipping insurance

[Brian2]

How do you guys handle insurance when shipping? I know USPS and UPS offer insurance at basically 1% of the insured price. If sending particularly expensive items this can add up in a heart beat. I don't really want to pay $200 insurance both directions for a $20,000 item to get it authenticated, or one way for a sale.

I'm sure there has to be a better way. What do you guys do?

Thanks,
Brian

[Eryk]

Originally Posted by Brian2

I don't really want to pay $200 insurance both directions for a $20,000 item to get it authenticated, or one way for a sale.

Uhem... well, yes, yes you do. At least if you're certain that you have a $20,000 item there. Cases of authentication, hmmm, how confident are you?

You can play the odds otherwise, and almost guarantee you'll save that $200. Because chances are nothing will happen, ever, to something you ship. But that's quite a hit if something does happen.

Couriers, taking the item as carry on, etc, cost more than insurance on a common carrier. Don't know of any personal policies that cover shipping on a common carrier, but could be wrong. Check your homeowner's policy.

In short, insurance: it's a good thing.

[latinmajorac]

Originally Posted by Eryk

Uhem... well, yes, yes you do. At least if you're certain that you have a $20,000 item there. Cases of authentication, hmmm, how confident are you?

You can play the odds otherwise, and almost guarantee you'll save that $200. Because chances are nothing will happen, ever, to something you ship. But that's quite a hit if something does happen.

Couriers, taking the item as carry on, etc, cost more than insurance on a common carrier. Don't know of any personal policies that cover shipping on a common carrier, but could be wrong. Check your homeowner's policy.

In short, insurance: it's a good thing.

tricky situation. i have never lost anything through USPS. and no, i have never had an item that big, but i order computers and have them delivered through the mail and my last one was about 2000. i personally think that usps insurance is a scam (just because i have NEVER lost an item i have mailed) and i have rarely if ever used it.

[Sanzotta]

If you do a search, you can see a thread in this forum from Jens (Shocktrooper) losing a group during the mailing process that was stolen in transit from a mail center. That is all I think you would need to see to see the value of insurance. Although the item may get there 99.9% of the time, all it takes is one incident like Jens has experienced to really leave a bad taste in your mouth.

I think most people would rather have the money then the medals anyway(since we are collectors) but at least it is "something", especially with the difficulty in finding higher end items and prices spiking like they are.

[ericlida]

Just for your information
You can insure packages up to $50,000.00
The cost of 50K would be around $50.00
But...... If the package has been lost (chances are almost 0) and you don't provide the receipt of the cost of the item inside, USPS would not cover the lost package.
What I mean is if you sell an expensive award (of course you don't have a receipt for it, because you did not buy it in the store), your chances to get paid are also 0

[Tretov]

Originally Posted by ericlida

What I mean is if you sell an expensive award (of course you don't have a receipt for it, because you did not buy it in the store), your chances to get paid are also 0

Well, that is the reason not to make USPS, UPS or any other carrier richer than necessary. Their insurances (and this actually goes for most insurances) are often void and null when they are actually needed. I assume that C2C written reciepts are not valid; that only cash register printed reciepts are accepted in claims?

[ericlida]

Originally Posted by Tretov

I assume that C2C written reciepts are not valid; that only cash register printed reciepts are accepted in claims?

You are absolutely correct.

[ekclete]

If you can afford $20K for a medal group then $400 for insurance should not be an issue. $400 is cheap peace of mind for such a large transaction. Just my opinion of course. Thanks Clete

[Tretov]

Originally Posted by ekclete

If you can afford $20K for a medal group then $400 for insurance should not be an issue. $400 is cheap peace of mind for such a large transaction. Just my opinion of course. Thanks Clete

But what use is the insurance if he does not have any B2C reciept to back the value up with?

I'd rather say; that if you can afford $20K for a medal group, then use the $400 to go and pick it up yourself (unless it is overseas etc)

[EricFG]

What does "B2C" & "C2C" mean?
I've had two medal shipments lost in my career. Neither was worth even 200USD but just the fact that they got lost make me almost as mad as a wet hen.
I feel that having some sort of tracking number makes the odds of delivery better.
Perhaps a homeowners insurance or content insurance or even a more specific collections insurance might not be an answer? Maybe with a specific 'shipping' rider?
Of course in these days of spiralling costs of everything how can one justify the cost of any kind of insurance? I live in one of the best countries in the world (in the last 200 years) and I haven't had any kind of health insurance in 10 years or so. I own a home, a condo in actuality and have a sort of insurance on the structure itself but I have no insurance on anything inside the walls (books, electronics, medals, appliances &c).

Enough of my rant....
If I had something worth 20K I might consider actually delivering it in person to the authenticator. A 500 plane ticket might just be worth it in that case.