Should I Insure my package 100 %?

So I was wondering on how I was to do package a large pricy ( I guess) shipment, from ebay. I am sending it and the seller paid for $ 12.00 for a medium flat-rate box for my product which is worth $ 160. So when I was packaging it, well my mom thought I was crazy to do so without insuring it the full value of the item. As, the priority box only covers $ 50 of the product. Can someone please explain if it's worth it to insure, how can I insure it to full, and should I send a fee to the buyer? Or what to do?

 

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You can add insurance when you print out the label on eBay. However, there has been some debate here on CT about whether or not the USPS insurance actually covers coins without sending them registered mail. I heard that the ShipCover insurance does not cover coins. It will only cost you a few bucks to insure the difference, so perhaps it is a good idea to go for it (USPS insurance) given that you made a good profit on your first sale. Be sure to select signature confirmation though. TC

 

True. Flat rate comes with $50 insurance. If you can't eat the loss of the extra $110, insure the package for $160. USPO has never failed me, but I always insure for the entire value just in case. The free $50 is taken into account when you insure for more.

 

All of the above.

 

When I charge a buyer for shipping, it's only for the postage. Insurance, signature confirmation, restricted delivery, etc. is for my protection, so I pay those costs.

 

Ok So What would be the recomended way to do it, should I print out a label directly from ebay, or get USPS insurance? And what's signature confirmation?

 

You can buy the insurance while printing the label from eBay. READ EVERYTHING while developing the label! Buying the label from eBay gets you a small discount, too.

 

Signature confirmation is simply a slip signed by the recipient (or agent) receiving the package. No signature, no delivery. Restricted delivery makes the person addressed the only person that can receive it. Be sure to mark any package you send with "DO NOT FORWARD" in big, red letters.

 

After the buyer pays, select print label from the drop down menu. You will then see a number of options for insurance, signature confirmation, etc. You can play around with the options and not actually purchase the postage until you click on the pay button. TC

 

Make sure the buyer has paid before you print the label, as the option to print a label is there before payment is made.

 

Also, I got that and the customer already sent pay, Is it possible that I could get scammed? I mean the seller has 100 % feedback is it possible that I could get scammed?

 

Don't just look at the %, look at the number of feedback, too. The higher the number the better.

Very unlikely, but still remotely possible. If you follow all of the instruction you have gotten, you should have no problems.

 

thank you.

 

If you do read everything you will see that ebay's USPS insurance will not cover coins.

The same insurance bought through usps.com instead of ebay does not have that exclusion, but there is different fine print to worry about there. It says a "negotiable item" can only be insured up to $15.00.

In past cases they have said that bullion coins are negotiable. So they will only pay $15 on a $50 gold buffalo proof worth $2,000 even though they charged more than $15 for the insurance itself!

ShipCover does not insure coins, so that is not an option either.

Registered mail is the only way to go. It is a PITA, but everything else ranges from a waste of money to outright fraud on ebay's part. (They sell insurance for an excluded item even though they know the entire ebay category is excluded based on their policies.)

 

I forgot to post this on this thread, for those who don't know, This is for collectible cards, So does this still apply?

 

Bullion can only be insured if sent via registered mail. Coins with numismatic value can be insured with priority mail. Just an FYI...

 

Items over $250 must be signed for if using ebay. If you insure for over $200 they must sign as well. If you just do insurance for your amount, no signature is needed, just tracking. I've had insured items lost, and HAVE been able to get the USPS to repay me, so coins are insurable. It usually takes SEVERAL months for them to pay though. I only insure coins over $400 now, as I've figured they would have to lose several a month for the cost of insurance to pay for itself. I believe you will have to purchase the full insurance amount (not your amount minus the included $50)

 

Yes always insurance

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