Pirate Ship Insurance...
Coll3ctor
Posts: 3,343 ✭✭✭
Does anyone know if Pirate Ship insurance insures coins and bullion?
Thanx!
0
Coll3ctor
Posts: 3,343 ✭✭✭
Comments
I forget, but I do know its in the fine print. I believe they do not.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Terms & Conditions
It sounds like raw coins between private individuals aren't covered.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I didn't know that Pirate Ships carried insurance. I don't think it would cover stolen items that had been stolen.
Aaarrggghh Matey, hand over your gold or ye walk the plank....
Cheers, RickO
When they ask me for insurance, they ask for the value and charge me accordingly. They don't say to tell them "what" it is!
Positive BST as a seller: Namvet69, Lordmarcovan, Bigjpst, Soldi, mustanggt, CoinHoader, moursund, SufinxHi, al410, JWP
Yep.
"They" expect you to be familiar with their 'terms and conditions'. And it behooves you to be, because these are the rules they are going to follow in the event of a 'loss/claim'.
Consider 'Pirate Ship' insurance. They will not cover raw coins being shipped to a TPG for grading.
Reference (Section = "Exclusions"; Sub-Section = "A").
Additionally, consider the USPS. Except for 'Registered Mail', their maximum indemnity for "bullion" is $15.00.
Reference (USPS DMM; Section 609; Sub-Section 4.1.m)
"They" might not ask a lot of questions when you are buying insurance. This, however, changes if you ever try to collect on it.
....................But first I'll Keel Haul ya!
Pete
I finally signed up for shipandinsure this week. I don't mind paying USPS high price for insurance. But since so many people saying that USPS will not pay for coins, I better not to use them. I paid lots of insurance for USPS in the past. I have never file any insurance claim for it, so I don't know if it is true or not that USPS will not pay for coins but I am not going to take a chance any more. Nowadays so many packages got stolen it is better to insure every package. Insurance fee is just part of cost of doing business.
This is not true. I have been paid by USPS for coins lost or damaged by them.
good to know. if you don't mind how do you prove the value of the coin? Thanks
A quick review of the Domestic Mail Manual will reveal that the post office does offer to insure numismatic items and there is a procedure for filing and collecting on a claim. I have had several claims for loss with the USPS, all were paid with minimal hassle. Others report more difficulty with collecting on a claim. "The USPS" is made up of a great many individuals, not all of whom operate in an identical fashion. A suggestion... if you're having a problem with the USPS, look up their policy in the DMM and make a copy of the relevant sections to include with any required correspondence.