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Requiring Insurance

five7teenfive7teen Posts: 325
in Trading Cards & Memorabilia Forum
What are people's thoughts about sellers requiring insurance for sales (on everybody's favourite auction site) over certain amounts? Are sellers that require insurance over $50 or $100 turning some potential buyers off? (I mean USPS insurance charged at actual rates - I've never been a fan of additional "mark-ups" on insurance charges). Thanks.

Comments

  • mkg809mkg809 Posts: 1,320 ✭✭
    I always buy insurance on high dollar cards, but if the purchase is only a few dollars I take my chances.
    As for a seller that requires insurance, I take that into consideration on my bid.
  • SnowballSnowball Posts: 361
    It depends on the card and also if high $$ card.

    I hate it when sellers mark up USPS insurance rates. Also, I hate it and don't buy when sellers use 3rd party insurance and don't give you a receipt of your item being insured through 3rd party. Some of these sellers don't actually insure your card through 3rd party (meaning they just self insure). If you buy insurance they pack the card real well and send it with tracking and they pocket the money. If you didn't buy they pack card in a so-so packaging. I came across a forum where sellers talk about insurance. Some do self insure and say they pack the item well and pocket the insurance money for extra profit.

    I bought a card from a seller (from HI) who uses a 3rd party insurance. When the package arrived, seller also enclosed insurance receipt printout that my card was insured and also stated the company name and insurance #.




    RIP Snow
  • larryallen73larryallen73 Posts: 6,067 ✭✭✭
    I self insure (buying or selling) if under $200 generally. Occasionally I will pay for insurance if more expensive card. Generally if feedback is good I buy/sell without insurance. So far so good! I do not like sellers requiring insurance. As has been argued on here before is it sellers or buyer's responsibility?
  • shagrotn77shagrotn77 Posts: 5,606 ✭✭✭✭
    On anything $50 or more, I'm all for sellers requiring insurance. It's the smart thing to do for both parties involved and if there is little to no markup from the USPS's insurance costs, it's a no brainer.
    "My father would womanize, he would drink. He would make outrageous claims like he invented the question mark. Sometimes he would accuse chestnuts of being lazy. The sort of general malaise that only the genius possess and the insane lament. Our childhood was typical. Summers in Rangoon, luge lessons. In the spring we'd make meat helmets. When we were insolent we were placed in a burlap bag and beaten with reeds - pretty standard really."
  • BoopottsBoopotts Posts: 6,784 ✭✭


    << <i>It depends on the card and also if high $$ card.

    I hate it when sellers mark up USPS insurance rates. Also, I hate it and don't buy when sellers use 3rd party insurance and don't give you a receipt of your item being insured through 3rd party. Some of these sellers don't actually insure your card through 3rd party (meaning they just self insure). If you buy insurance they pack the card real well and send it with tracking and they pocket the money. If you didn't buy they pack card in a so-so packaging. I came across a forum where sellers talk about insurance. Some do self insure and say they pack the item well and pocket the insurance money for extra profit.

    I bought a card from a seller (from HI) who uses a 3rd party insurance. When the package arrived, seller also enclosed insurance receipt printout that my card was insured and also stated the company name and insurance #. >>



    As long as a seller honored a legitimate claim I don't see what the problem is with self insuring. They might as well keep the money as opposed to the USPS.
  • larryallen73larryallen73 Posts: 6,067 ✭✭✭
    Some do self insure and say they pack the item well and pocket the insurance money for extra profit.

    I don't consider that I am "pocketing" the money. If someone pays for insurance and I am self-insuring that means I keep the money. For example, I have had about 100 buyers pay $2.00 for insurance. That means my first claim for $200 I will have broken even. That's my decision. Doesn't matter to the buyer; insurance is insurance. If card doesn't arrive you get your money back.

    How an item is packaged (good or bad) should have nothing to do with whether a person insures it or not. I pack everything the same (hopefully top quality).
  • Brian48Brian48 Posts: 2,624 ✭✭✭
    I don't mind it on some of the more expensive stuff. I think it's a reasonable precaution and protects both seller and buyer. Also, it helps in dispute settlements as well.
  • BoopottsBoopotts Posts: 6,784 ✭✭


    << <i>Some do self insure and say they pack the item well and pocket the insurance money for extra profit.

    I don't consider that I am "pocketing" the money. If someone pays for insurance and I am self-insuring that means I keep the money. For example, I have had about 100 buyers pay $2.00 for insurance. That means my first claim for $200 I will have broken even. That's my decision. Doesn't matter to the buyer; insurance is insurance. If card doesn't arrive you get your money back.

    How an item is packaged (good or bad) should have nothing to do with whether a person insures it or not. I pack everything the same (hopefully top quality). >>



    FWIW I completely agree.
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