US Postal Service Insurance

[edjs]

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.

[ALR-bishop]

What I would like to know is if anyone has bought insurance and had a loss and actually collected. I remember on ebay when some buyers would require the buyer to purchase insurance. But if the card never arrived the buyer had no effective way to prove a loss. If the seller buys it he has the coverage but he has been paid. The buyer would seem to have no effective way to file a claim on insurance purchased by the seller.

[iwantitiwinit]

Remember Seinfeld didn't get reimbursed, Newman tried to screw him.

[pawpawdiv9]

I use USPS..back a few yrs, my submission to Beckett got lost. It was only like 100 dollar, but that's what I insured it for and that what I filed and got that plus s/h cost. It was quick and easy. I did it online, and attached prices of sold items similar to what I had.

As for USPS insurance...I have shipped many high-end cards, some 2-3k. WHat I found out is if its anything over 2k, use registered mail (note you use that paper tape on the corners of the priorty box)--not the clear!!!
USPS will insure up to 5k.

I am skeptic as well shipping high-end cards thru the mail, so when I pack them, I wrap then good(cardboard/bubble/peanuts), and sometimes in a plastic bag, in case a hole suddenly appears during arrival. I mostly use priorty boxes, to give me the added security for its rigidness compared to bubble mailers.

[prewarsports]

Unless things have changed, you can insure a package up to $25,000 with Registered Mail.

[Pilot172000]

I lost $600 in coins one time and it was at a time in my life I couldn't afford $600. I try to weigh the cost and sometimes I do and sometimes I don't.

[Snapolit1]

The most priority mail will insure for is $5000 and I checked today and they wanted $60 to insure for that. Seemed a bit much, but if anything happens I will be kicking myself in the posterior.

Nerve racking stuff.

[egbeachley]

Registered goes higher and is cheaper because they almost never lose a registered package. It is locked up each step of the way snd has to be signed for every time it changed hands.

[irv]

Originally Posted by Snapolit1

The most priority mail will insure for is $5000 and I checked today and they wanted $60 to insure for that. Seemed a bit much, but if anything happens I will be kicking myself in the posterior.

Nerve racking stuff.

Why I am still hesitant to send my cards to PSA to get graded, and I have a border and customs to deal with too!