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<p>[QUOTE=&quot;afantiques, post: 2468927, member: 71234&quot;]Underwriting your own risk makes sense for anything where catastrophic loss is not a possibility. For motor and home insurance losses could be 100,000 or more, not pocket money for most.</p><p><br /></p><p>For your routine trading, the money not spent on insurance will amost certainly exceed any losses, and you can spread this cost among all your customers with a dollar or so per item on the handling charge, folded into the S/H figure.&nbsp; Aim for about $1 per $100 sales value. No need for a per item calculation, if you sell 100 items with an average value of $50, 50c. per item is fine, even if some are $10 and some are $100. Insurance is all about spreading out cost and risk.</p><p><br /></p><p>The problem with coins is one of definition. Coins as simple money are one thing and commonly excluded along with other spendable or cashable things like banknotes and bearer bonds.</p><p><br /></p><p>Numismatic coins are often covered, you do need to check the terms and conditions to see if numismatic material is covered, even if &#039;coins&#039; are excluded, where they mean legal tender current coins.</p><p><br /></p><p>One major advantage of self insurance is no claims hassles or cover restrictions. You can ship however you find effective to wherever you want to send. You also get to spend the surplus, if you keep that insurance money in a cookie jar all year.</p><p><br /></p><p>The principle is the same if you sell a few items or loads of stuff, as if you sell only rarely the risk per item is very small. If you sell loads of stuff the chance of a loss becaomes almost a certainty, but the insurance fund is larger in proportion.</p><p><br /></p><p>If you are talking about &#039;peace of mind&#039;, you are getting out of business and rationality into realms of irrational behavior, &#039;gut feelings&#039; instead of actuarial mathematics.[/QUOTE]</p><p><br /></p>

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