I would never send a high end item Fed Ex. Their insurance only covers $500 on sports memorabilia (I was sending a card to SGC that was valued at $2000, so I tried to insure it at Fed Ex, $500 was all they would cover, I saw the policy myself). I believe the auction houses use a third party insurer when they ship Fed Ex. I don't know what UPS does, but USPS will cover what you insured the item for, as long as you can prove the value ( I doubt they would pay out $1000 on a $5 card, but I don't know that policy). When deciding if I am going to insure the card, I always think about what would I have to pay out if it is lost, could I refund the guy's money if the card is lost, or, can I afford to take the hit that losing that card would mean? If not, I spend the money on insurance.
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