Insurance?

jill jackson

jill jackson

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Some people here ship without insurance. That is fine with me as long as they take responsibility in case the item is never scanned delivered to me. I myself always use it as I've had packages go missing and without it you would have to make good. I feel like if the party shipping wants to not use it and tells me and agrees to be responsible it's OK. Besides if paypal is involved they will hold you responsible if the item is never scanned delivered, insurance or not.

Many dealers choose to save money and not use insurance, they self insure paying the rare loss out of a pool of money they save by not using it. Then you have the ones that will charge you extra for insurance and they never purchase any. They will tell you they are not responsible in case of a loss if you did not pay them the extra fee. One that used to be a dealer here even told us (when a package arrived no insurance marking apparent and a fee was paid) that if we had not paid it and it had been lost, too bad. This was wrong as the dealer was paid by paypal.

What is your take on insurance?
 
I self insure up to $100 anything over that I take it out. And I ask most people to sign for their packages. At least that way with pal pal I'm covered.
 
PayPal only requires an item to be scanned delivered to show proof and won't allow charge backs on those. In fact millions of dollars worth of merchandise is handled this way. Hardly anything off eBay is shipped with insurance, but everything nearly has delivery conformation. Even very low cost items.
 
For the piece of mind I get, I think it's worth it, I used to do a lot of eBay sales and I insured anything over $100, once I sold a fish tail Coke clock and it got lost between the PO and the buyers address two states away.

After fillin' out the prerequisite paper work the check came 2-3 weeks later, I was pissed that they lost the clock but was happy I took out the insurance.

Hell, I even insure knives I give away if they're over a certain $ value.

What's your limit, what $ amount does the value require insurance in your opinion?
 
I insure nearly anything because I don't want to pay in case of a loss. But, I do realize many don't because they sell so much. I don't believe it when people say they don't because there's a better chance of items being stolen though. At least I haven't seen that.
 
I self insure up to $100.After that I always buy it.
I've never had to put in a claim & I hope I never do.I've heard it's a hassle & you have to prove the item's worth.I think that's BS.If I ship a 500$ knife & pay to insure it for a grand,they should honor that grand.I mean what if I have a 500$ knife & have 500$ worth of custom work put into it,but the work was done by different parties?I try & save reciepts for everything,but some slip thru the cracks.

I don't buy that either about the insured items being more likely to be stolen.I think it's just the opposite.Insured packages seem to be treated better than uninsured from my experience.Could be coincidence though,who knows.
 
I dont bother. when I sell knifes they are so low in price it is just not worth it. I sold something really cost alot of money and I insurance it, delivery confirmation it plus I made them sigh for it too.
 
jill jackson said:
PayPal only requires an item to be scanned delivered to show proof and won't allow charge backs on those. In fact millions of dollars worth of merchandise is handled this way. Hardly anything off eBay is shipped with insurance, but everything nearly has delivery conformation. Even very low cost items.
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If its a Paypal transaction and over $250 you better have a signature confirmation too, simple delivery confirmation like from USPS is not enough to protect the seller from chargeback.

11.4 Proof of Shipment, Proof of Delivery and Signature Confirmation Requirements.
"Proof of Shipment" is online or physical documentation from a shipping company that includes all of the following:
The date the item is shipped.
The recipient’s address matches the shipping address provided on the Transaction Details Page.
The recipient’s address, showing at least the city & state, or city & country, or zip/postal code (or international equivalent).

"Proof of Delivery" is online documentation from a shipping company that includes all of the following:
The item’s status as delivered.
The date the item is delivered.
The recipient address is the same as in the shipping address section on the Transaction Details Page.
The recipient's address, showing at least the city & state, or city & country, or zip/postal code (or international equivalent).
Signature Confirmation as described below if the full amount of the payment including shipping and taxes is $250 USD or more or its foreign currency equivalent provided below:


350 Australian Dollar (AUD) 380 New Zealand Dollar (NZD)
500 Brazilian Real (BRL) 1,600 Norwegian Krone (NOK)
325 Canadian Dollar (CAD) 12500.00 Philippine Peso (PHP)
6,000 Czech Republic Koruna (CZK) 800 Polish New Zloty (PLN)
1,500 Danish Krone (DKK) 150 Pound Sterling – United Kingdom (GBP)
200 Euro (EUR) 400 Singaporean Dollar (SGD)
2,000 Hong Kong Dollar (HKD) 2,000 Swedish Krona (SEK)
55,000 Hungarian Forint (HUF) 330 Swiss Franc (CHF)
1,000 Israeli Shekel (ILS) 8250.00 Taiwan New Dollar (TWD)
28,000 Japanese Yen (JPY) 9000.00 Thai Baht (THB)
2,200 Mexican New Peso (MXN)

"Signature Confirmation" is online documentation that can be viewed at the shipping company’s website and indicates that the item was signed for on delivery.
 
I have collectibles insurance which covers my knives on my table at a show, in my home, in my checked luggage and in transit to clients. For $10,000 worth of coverage it costs about $300 a year. You do not need to keep a list of what you have as it constantly changes. With this I do not need to purchase insurance through the post office.
 
Chuck Gedraitis Knives said:
I have collectibles insurance which covers my knives on my table at a show, in my home, in my checked luggage and in transit to clients. For $10,000 worth of coverage it costs about $300 a year. You do not need to keep a list of what you have as it constantly changes. With this I do not need to purchase insurance through the post office.
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Do you charge the buyers a fee to be covered?
 
The buyer is responsible to pay and i am responsible to make sure they receive their purchase (period)....the only exeption is out of country purchases and i make it clear upfront.
 
jill jackson said:
I've had 500 dollar knives delivered with only DC.
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Those people must have known you well enough to trust you if you paid with PP. I would also trust you, but I would still never ship an item that expensive without insurance, and SC.

It seldom happens, but my PO told me packages over $200 had been left before without a signature. That isn't likely to happen, but I still feel better with SC added.

I put insurance on everything myself, and usually SC as well. But I seldom ship anythig under $200. I don't charge the buyer anymore for that, and see it as my cost for my protection.

I do have some old Case knives I plan to sell, and most of those will be under $100. I haven't thought about if I'll insure those, or just put SC only on them. If I didn't insure those that were under $100 I would only take PP so the buyer would know they were protected, and of course I would be responsible immediately if lost.

I also never take, or use the Gift option on PP.

jill jackson said:
Do you charge the buyers a fee to be covered?
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He may have overhead worked into his price, but don't think Chuck would add a separate fee on for that
 
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bigmark408 said:
The buyer is responsible to pay and i am responsible to make sure they receive their purchase (period)....the only exeption is out of country purchases and i make it clear upfront.
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If PP is used It doesn't matter what you clear upfront. If the buyer did file a dispute with PP they would side with the buyer if the knife was lost.
 
I do not charge customers for insurance, it's included in the price and the cost of doing business and when I mail a knife it is covered by my insurance policy. I would rather pay $300 a year then have to front the cost of a 2K knife getting lost in the mail.
Here is a link to their website.
http://www.collectinsure.com/
 
I generally will insure an item if it's worth over a $100 but haven't had to do it much. I haven't sold many knives in total so it hasn't come up much. I do expect however that a knife I purchase either be insured or the seller is willing to make good if it never arrives. That I expect..

One thing that I think people need to know, and I just found this out myself is just because you buy insurance doesn't mean they will pay out for the amount you value your item. This actually prevented me from sending one of my BM Rukus in for new scales. I wanted to buy new scales for it and BM required I send in the whole knife. Being that it's a discontinued knife with collector value I wanted to insure it and called the PO to inquire.

I was surprised to find out that if it were to be lost I would have to "Prove" it's value with a receipt. I explained that I didn't have a receipt and my item was rare and no longer available and had value beyond its original price even if I still had the receipt. They told me the only way to ensure I was covered was to have it appraised before I mailed it?

I'm glad I called. If I had insured it and it was lost I would have been SOL because I had no way to prove its value. Just something I wanted to share because I was surprised to learn this. Until then I figured if you insured an item and it was lost you just got what you insured it for. Not so, you have to be able to prove it's value.
 
Anything under $50, I just self insure, unless the buyer specifically requests it through the shipping service. Everything over that is insured at minimum, with added services at my and/or the buyer's discretion. If it's at my discretion, I state it in the ad, and do not waver from it, unless it increases the security of the shipment.

As a buyer, I generally make sure all shipping arrangements are agreeable, and totally understood before I purchase the item.
 
Ken44 said:
If PP is used It doesn't matter what you clear upfront. If the buyer did file a dispute with PP they would side with the buyer if the knife was lost.
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I have sold a knife or two....i never offer International sales and know how to cover all the bases. :)
 
jill jackson said:
PayPal only requires an item to be scanned delivered to show proof and won't allow charge backs on those. In fact millions of dollars worth of merchandise is handled this way. Hardly anything off eBay is shipped with insurance, but everything nearly has delivery conformation. Even very low cost items.
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Wrong! My daughter recently sold a camera on eBay to finance her Japan trip. The buyer claims they never received the camera even though we had a tracking number. PayPal says, "Oh, you didn't get signature confirmation? Too bad, we're refunding their money." We now have a locked out eBay account and owe PayPal nearly $400.00.
 
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