Insurance REQUIRED on EBay purchase?

mr3holesinone

Wondering if anyone else has had this occur when winning an item on EBay. Seller requires purchaser to pay for insurance in addition to shipping and handling charges. Item # was 803630569, sorry I don't know how to link it up. First in the payment instructions they recommend getting insurance then in the email for winning the item they insist on the insurance. Seller has more than one policy listed for the insurance.

It's bad enough for everyone involved having to pay for shipping charges, but when I get the packages and see only $1.98 was actually put towards postage and I just paid over $5 or $6 that's when I have a problem as a purchaser. This time it will be $7.30.

The way I figure my insurance on most items I purchase is that I use a credit card and if I don't get my item I call my credit card company and tell them I didn't receive the merchandise. I've only NOT received my item one time and it was for a $5 item anyway.

Any comments or suggestions are welcomed.

Russ

Insurance is mandatory in all of my auctions.



<< <i>The way I figure my insurance on most items I purchase is that I use a credit card >>



That protects you, but does nothing for the seller. Is he just supposed to eat it if it gets lost?

Russ, NCNE

prooflike

Insurance is mandatory in all of my auctions.

Pushkin

I insure all my eBay items, but it is included in the price if the item, with the S/H/I charge rising as the price of the item goes up. BUT, I make it clear in the item description that no insurance is not an option, and that the S/H price is really S/H/I. Most items I sell are over $20, the the majority over $50. I just don't want to deal with the hassle of a lost item and the possible finger pointing that can occur. Anyway, just one opinion.

Bottom line, if no insurance is not an option, the seller should make the policy VERY CLEAR.

Russ

Here's what it says in my auctions:



<< <i>Shipping will be $x.xx, which includes careful packing and insurance. >>



I think that's pretty clear. Of course, I also thought it was pretty clear where I state "no credit cards thru Paypal", but people still kept trying to pay with a credit card. So now, at the top and the bottom of each listing in giant red caps it says: "NO CREDIT CARDS THRU PAYPAL". So far, that's worked.

Russ, NCNE

JMOORE

LINK

DCAMFranklin

I insist upon sending every coin with postal insurance. No buyer can "claim" they didn't receive the coin. No Negative Feedback for lack of a coin. The buyers can be assured they will either receive their coin or the postal authority will refund their money.

Pushkin

I agree completely with Russ,

There is no protection for the seller with a credit card. I think the majority of sellers who require insurance do so to protect themselves and the buyer, not to make an extra dollar on S/H. Buyers who don't like my policy of requiring insurance are free not to bid.

nwcs

On the few auctions I have set up, I make it optional. It's the buyer's risk, IMO.

gmarguli

It is rather clear that insurance is required and the cost he lists is actually only 10¢ higher than the Post Office charges.

I make insurance optional. It is clear that if the buyer declines, they take responsibility for the item the second it goes into the mail.

osirisMMII

<< <i>Wondering if anyone else has had this occur when winning an item on EBay. Seller requires purchaser to pay for insurance in addition to shipping and handling charges. Item # was 803630569, sorry I don't know how to link it up. First in the payment instructions they recommend getting insurance then in the email for winning the item they insist on the insurance. Seller has more than one policy listed for the insurance. >>





In reading the auction it is clear to me that you are going to have to pay insurance in addition to the S/H charge of $4. His payment instuctions do make it sound optional but it is probably just a generic message that he uses with all of his auctions including items that sell for next to nothing. Opening bid was $125 and by his chart will run you $3.30 - when I bid I just figure S/H charges and insurance right into my bid - I do this with Heritage, B&M, teletrade, any auction - no surprises that way. Personally if I'm going to buy/sell anything worth more than $50 it's going to be insured to protect myself and the other individual in the transaction. Have you talked to the seller about this situation? Hey..... he is a "powerseller" meaning hopefully he wants a satisfied buyer.

mr3holesinone

Thanks for the quick replies. I'd much rather see it done where s/h/i is included in ONE price rather than adding s/h plus ins later on. I've seen many board members who do it this way and I have to think that is a lot more cut and dried on what buyers are going to be paying. Its got to cut down on problems. If you say shipping is $5 well that is what it is and the bidders can take that into consideration of either their bids or their decision to move on.

I have not sold anything yet but when I do start I believe my s/h/i is going to be a standard $3/auction; items under $20 will be 99 cents.

tjkillian

Insurance is the only way to go for coins. Too many potential problems that can be solved by insurance. Also, any coin more the $150.00 should go registered, which is even better.

Tom

flaminio

<< <i>Thanks for the quick replies. I'd much rather see it done where s/h/i is included in ONE price rather than adding s/h plus ins later on. >>



The only potential problem here is that the cost of insurance is dependent on the final price of the auction. If it's a fixed price/BIN situation, it should be known; but if it's an auction where the seller starts at one cent and lets it run, the cost of insurance is not known until the auction ends. However, as the bidder you should be able to calculate it from the USPS rates, and not be surprised when the seller tells you what it is.

bigtonydallas

The way I run my auctions is I state that the insurance is $1.50 for the package. If they win additional items I just charge the $1.50. I will just make it up in volume. I also charge a discounted shipping rate for mutiple auctions won within three days. I usually have all my auctions end on the same day. I am going to change my auctions , I will charge an extra .50 in the shipping for delivery confirmation so I know they got the package whether insured or not.

my3cents

I charge $2.90 S&H on every auction - sometimes a little more if it's for many coins at one time. For $.40 you can get a bubble padded envelope, then I use extra "paper tape" for all edges of the envelope, then extra bubble wrap inside and maybe the shipping slip and a copy of the paypal payment receipt. Weighs a little more - usually costs .84 to send it. I figure the packaging and the time is worth a little something extra.

Insurance is ALWAYS extra.

Ogden

Man, I agree. On a recent auction the coin never got to the buyer. Fortunately the buyer asked for insurance. I am going to make it madatory on all my future auctions. It takes away the problems with infidelity for anyone involved in the transmission. It's not that expensive to purchase.

Ogden

66Tbird

My +$50 stuff is going to be insured and/or/at least online trackable, otherwise no seller protection with paypal. That little learning curve was a quick right then left and I got thrown out..

jbsteven

I require insurance on items over $100.00 and anything under is optional but HIGHLY recommended.

I had 2 national banknotes ripped out of a envelope that had $400.00 worth of insurance for $750.00 worth of notes. It was the 8 1/2 by 11 envelope and they cut the side and taped it back before delivery. The only way they could have known is when they x rayed the package to know what was inside. \


needless to say my packages are insured for the full sale price from that time on.

danglen

This whole issue of Postal Insurance is pretty interesting. Last year, I collected over $800 in postal insurance premiums for the US Postal Service, and to the extent that I was being paid with PayPal or a credit card, I subsidized a portion of those premiums as well, since I was only charging the buyers the actual cost of the insurance. I had one coin that was "lost", although based on my dealings with the buyer I believe he actually received the coin. My suspicions were confirmed when he was NARU'd a short time later (but I digress).

Since most of the items I sell are lower cost items, I make insurance optional, but let the buyer know that once I have turned the item over to the Post Office, as evidenced by a postal receipt showing that an item was shipped to that zip code on the day I said it was shipped, the responsibility of loss or damage rests with them. On higher priced items, I make insurance mandatory, but include the cost of insurance in the shipping price, which is stated within the auction description.

Based on my experience with the USPS insurance program, at the beginning of the year I started a self-insurance program where I offer up to $100 worth of insurance for $1.25. To date I have had one claim for $10.40. I feel my customers are getting a better deal, and I don't have to deal with the Post Office when an item gets lost, and if you ship enough items, invariably some will. I have now expanded my insurance program to cover items shipped to Canada and the UK, and so far, no problems.

If anyone has any questions about the mechanics of what I do, feel free to PM me.

BillJones

I had one buyer refuse to pay for the insurance. I have one word for that, CHEAPSKATE!

What happens if the item is lost? I'm suppoed to eat the loss and get a negative review from you to boot?

GIVE ME A BREAK!

mrcommem

I always insist on insurance on all auctions. I have had $60 to $500 items disappear in the mail and never reach their destination. Postal Service always pays off, maybe with some hassel, but they PAY.