stupid question #44

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Posted By: Dave

It hasn't happened yet, but I'm waiting on the first time. Say I have a T206 Walter Johnson Portrait card. Looking at the condition of the card, I want to insure it for $1000 through the mail to get to PSA, SGC, or wherever. It gets lost in the mail. How in the world are you supposed to be able to make the claim that you had a $1000 card in the mail? Assuming you just bought the card on ebay, or at a card shop, and have a reciept for what you bought the card for, should be no problem in getting that money back if lost in the mail. But what if the card was handed down from a relative, or a gift? Are you just out the money and the card because you can't prove it's value? Ugh.

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Posted By: barrysloate

I assume you mean you insured it with the post office and want to make a claim with them. First, I would send a $1000 card registered mail, and the chance of that getting lost is about zero. Second, when you fill out the grading form, there is a box where you put your own insured value on the card. That will be the documentation you would show the post office when you make your claim. But use registered mail, not first class insured for something worth $1000.

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Posted By: T206Collector

...if you use Collectibles Insurance Agency to insure your collection, I believe they will cover you for items lost in the mail, and the proof of claim is a lot more reasonable than what the USPS might require.

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Posted By: Cobby33

Good point re: CIA, but make sure it's a worthwhile claim, as insurance carriers reserve their rights to cancel policies for making claims.

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Posted By: Chris Counts

I once used UPS to send some used video editing equipment to a resale vendor. I was hoping to get $2,500 for the stuff, so I insured it for that amount. Anyway, UPS completely destroyed the equipment, then blamed me for poorly packing it. Thankfully, I kept all my receipts proving that I bought state-of-the-art packing material (ironically from a store UPS later bought). I took them to small claims court and won. The judge awarded me the full amount, based not on the actual value of the equipment (which was difficult to determine) but on the exact amount I insured the package for ...

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Posted By: Dave

well I hope would never come to that. I was just curious. I'm pretty sure the return trip from PSA to the house would be covered and if the cards were lost would be pretty easy to get the insurance money with PSA doing the sending. Just wasn't sure about the trip there. The biggest problem for me having CIA is most the cards I buy, I flip pretty quick, so would be hard to insure something for three or four weeks and then keep removing.