When you sell on eBay do you insure your packages?
paladin
Posts: 898 ✭✭
I understand that both eBay & PayPal have buyer & seller protection programs, and because of this, some sellers are reluctant to spend the extra to insure their shipments. Any thoughts?
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
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<< <i>I understand that both eBay & PayPal have buyer & seller protection programs, and because of this, some sellers are reluctant to spend the extra to insure their shipments. Any thoughts? >>
Have you got written assurance from PP and/or eBay that they will cover your butt if an uninsured package gets lost?
<< <i>on lower value shipments (fifty bucks or so and lesser value), I "self insure" -- I don't pay the PO for the insurance, I take the risk that if lost/not delivered, I can afford to pay for the loss. >>
Ditto...
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i>[<< I understand that both eBay & PayPal have buyer & seller protection programs, and because of this, some sellers are reluctant to spend the extra to insure their shipments. Any thoughts? >>
Have you got written assurance from PP and/or eBay that they will cover your butt if an uninsured package gets lost?
>>
That is a great question. I know a buyer can claim a package was never received and be protected. But I always thought that fell back on the seller as in the seller did not send the package (not lost in the mail). So I wouldn't want a claim like that on me (as a seller) with eBay/Paypal.
<< <i>on lower value shipments (fifty bucks or so and lesser value), I "self insure" -- I don't pay the PO for the insurance, I take the risk that if lost/not delivered, I can afford to pay for the loss. >>
I put delivery confirmation on all packages and it is free when
You buy the postage online
And yes I do fund my insurance into a coffee can for all shipments only had to go into the coffee can for one items in three years. A fifty dollar coin did not show up at two weeks I refunded the buyer at thirty five days it showed up and the buyer repaid for it. Back into the can it went.
<< <i>
<< <i>on lower value shipments (fifty bucks or so and lesser value), I "self insure" -- I don't pay the PO for the insurance, I take the risk that if lost/not delivered, I can afford to pay for the loss. >>
I put delivery confirmation on all packages and it is free when
You buy the postage online >>
What they said. Insurance only over about $50, delivery confirmation on everything no matter how small.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
*Edit- nevermind. Just saw that the packing slip would be huge. Not worth the trouble.
Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin
#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
#8 (and climbing) 1972 Topps Los Angeles Rams Team Set
<< <i>
<< <i>I understand that both eBay & PayPal have buyer & seller protection programs, and because of this, some sellers are reluctant to spend the extra to insure their shipments. Any thoughts? >>
Have you got written assurance from PP and/or eBay that they will cover your butt if an uninsured package gets lost? >>
This from eBay's website:
"Seller Protection
If you are a US PayPal account holder and your transaction is deemed eligible, PayPal will cover you in the event of an unauthorized purchase, an "item not received" claim, a chargeback, or a reversal. Learn more about what's eligible and what's not below.
If you're a non-US account holder, visit the FAQs page to get coverage details for your country.
When you are covered:
Your transaction is marked either eligible or partially eligible. You can check the status on the Transaction Details page.
Your primary residence, as listed in your PayPal account, is in the United States.
The item is a physical, tangible good that can be shipped.
AND you do the following:
You ship the item to the address listed on the PayPal Transaction Details page. If you’re not selling on eBay, make sure you ship to a Confirmed Address. This means that you’re shipping to an address that PayPal has validated to help reduce chances of fraud.
Ship within 7 calendar days of being paid by the buyer.
For all transactions, keep proof of shipment and delivery that can be tracked online. If your buyer picks the item up in person, or you can't provide trackable proof of delivery, your transaction won’t qualify.
For payments over $250 USD (or local currency equivalent, including shipping and tax), be sure that you have signature confirmation of delivery in addition to proof of shipment (See above). If a buyer files a claim, you must respond to our requests for information as outlined in our communications to you.
Important Shipping Information
Depending on the type of claim or chargeback the buyer files, you will need to provide either Proof of Shipment or Proof of Delivery to get coverage.
If you're responding to an "item not received" claim, you'll need to provide Proof of Delivery from a shipping company that meets the following conditions:
It shows the status as delivered.
It confirms the date the order was delivered.
It includes the recipient's address, including a minimum of the city, state, and zip code (or equivalent).
For payments of $250 USD (or local currency equivalent) or more, it includes proof of the recipient's signature to confirm delivery."
This seems to indicate that the seller is covered by PayPal against loss due to the buyer not receiving the shipment, which would make buying additional insurance unnecessary.
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
<< <i>Here's an OT question, didn't want to start a new thread. Do any of you use that "AdShip" app that ebay offers and do you like it? >>
Tried them but found there claim process to be worse than the UPS's so went to the self insure on cheaper stuff. BTW both of the insurers take so long to pay you as the seller have pay the buyer and hope that you can get all the prove of value and wait about sixty days to maybe get your money back. Just not worth the hassle IMO on the cheaper stuff.
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>Seller protection only applies to those items proven delivered with either signature or delivery confirmation as applicable. their policy is that the item is in the possession of the seller until proven delivered. Insurance protects the seller, not the buyer. Buyer is protected by buyer protection. Sellers that do not insure, do so at their own risk. I self insure up to $100. I love it when sellers ask if i would like to purchase insurance on my purchase. My reply: "no thanks, I've got paypal protection. Feel free to purchase it for yourself because you're the one that will need it if item gets lost." >>
Geez - you're right. If the package goes missing in the system you are not covered!
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
<< <i>I insure everything as the chances of the Post Orifice loosing a parcel are far better odds then winning the lottery! >>
Yes but the odds of it going missing are a lot less then the chance you will come home a winner on your next trip to the casino.
This from eBay's website concerning the insurance they sell during the seller shipping label print process:
THE INSURANCE DOES NOT INSURE:
Coins, bullion, loose diamonds or stones, stocks, bonds, currency, deeds, evidences of debt, travelers checks, money orders, gift certificates, calling cards, lottery tickets, admission tickets, or any other negotiable documents.
So if you've been selling coins and buying shipping insurance as part of the eBay checkout process, you've been wasting your money as you are not covered.
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
<< <i>Delivery Confirmation on everything under $500 over that it's registered / Insured. >>
PayPal requires a signature on anything $250 and over or the seller loses any protection PayPal may have considered offering.
<< <i>I put delivery confirmation on all packages and it is free when
You buy the postage online >>
Only for Priority, not First Class
<< <i>I love it when sellers ask if i would like to pay for insurance on my purchase. My reply: "no thanks, I've got paypal protection. Feel free to purchase it for yourself because you're the one that will need it if item gets lost." >>
Which is why I build it into the shipping cost, and when buyers ask for the item to be shipped at their risk without insurance, I refuse.
<< <i>Which is why I build it into the shipping cost, and when buyers ask for the item to be shipped at their risk without insurance, I refuse. >>
I would too if I was able to make it part of the consignment fee.
<< <i>When you sell on eBay do you insure your packages? >>
Always.
I even insure my giveaways.
"Inspiration exists, but it has to find you working" Pablo Picasso
<< <i>on lower value shipments (fifty bucks or so and lesser value), I "self insure" -- I don't pay the PO for the insurance, I take the risk that if lost/not delivered, I can afford to pay for the loss. >>
Delivery confirmation if item sells for over $100.
I don't trust the other parties involved......
Answer to question: I ship enough that it makes no sense to buy insurance for low value items (say less tha $1k) shipped domestically. So I self insure. Based on he loss rates I've had with USPS I have to conclude that either others lose a lot more shipments than I do (poor packaging and or addressing) or there is a lot of insurance fraud going on with USPS insurance (likely). The cost of insurance for 1st class,priority, or parcelpost make self insurance a no brainer.
Those who do by insurance from USPS either haven't done the math or are paying for peace o mind (which will quickly disappear if they have to make a claim). Jerry
edit to clarify that this post applies to domestic shipments only. intl shipments are much more risky.
<< <i>This from eBay's website concerning the insurance they sell during the seller shipping label print process:
THE INSURANCE DOES NOT INSURE:
Coins, bullion, loose diamonds or stones, stocks, bonds, currency, deeds, evidences of debt, travelers checks, money orders, gift certificates, calling cards, lottery tickets, admission tickets, or any other negotiable documents.
So if you've been selling coins and buying shipping insurance as part of the eBay checkout process, you've been wasting your money as you are not covered. >>
Although I'm not 100% sure, I'm 99% sure that this exception does NOT apply to collectible coins and that they are fully insurable under the ebay offered insurance. This insurance is cost effective and useful for intl shipments. The USPS has learned their lesson and offers very limited insurance for intl shipments. --jerry
-Keith
<< <i> ........................... So if you've been selling coins and buying shipping insurance as part of the eBay checkout process, you've been wasting your money as you are not covered. >>
Although I'm not 100% sure, I'm 99% sure that this exception does NOT apply to collectible coins and that they are fully insurable under the ebay offered insurance. This insurance is cost effective and useful for intl shipments. The USPS has learned their lesson and offers very limited insurance for intl shipments. --jerry >>
OK - Here's the wording from the actual eBay shipping insurance policy. There is no mention of collectibles of any kind anywhere in the policy. If you purchase the eBay shipping insurance it will not cover coins & bullion. Period.
"II. EXCLUSIONS
This Policy does not insure the following:
A. Coins, bullion, loose diamonds or stones, stocks, bonds, currency, deeds, evidences of debt,
travelers checks, money orders, gift certificates, calling cards, lottery tickets, admission tickets, or
any other negotiable documents.
B. Loss from delay, deterioration, spoilage or contamination of perishable merchandise except when
resulting from fire.
C. Merchandise shipped on consignment, memorandum or approval unless shipped in fulfillment of
an order or request.
D. Plasma televisions or monitors.
E. Loss, damage or non-arrival of any Package which:
1. Is addressed, wrapped or packed insufficiently, incorrectly or contrary to Carrier’s
packaging requirements; or ............................... "
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
" Fair market value of stamps and coins of philatelic or numismatic value, as determined by a recognized stamp or coin dealer or current coin and stamp collectors newsletters and trade papers"
Although I can't seem to find it on their new and improved website...
Bottom line is that for anything $249.99 and under, paypal requires DC proof to protect yourself from a claim of non-receipt. Anything $250 or over requires signature confirmation per paypal policy. The insurance you purchase as a seller through the USPS is really just for your own benefit and has nothing to do with the buyer or the paypal process. I self-insure anything under $30, personally.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
The insurance sold by eBay during their checkout process is different from that sold by the USPS. If you want coins covered you have to purchase the insurance from the USPS website, which presumably means you'll have to print your shipping labels on the USPS website as well. If you print your shipping labels through eBay & buy their postal insurance you will not be covered when you ship coins or bullion.
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
<< <i>The insurance sold by eBay during their checkout process is different from that sold by the USPS. If you want coins covered you have to purchase the insurance from the USPS website, which presumably means you'll have to print your shipping labels on the USPS website as well. If you print your shipping labels through eBay & buy their postal insurance you will not be covered when you ship coins or bullion. >>
I believe this to be totally incorrect. The "Coins" reference concerns "money instruments" (read it in context) and not collectible coins, i.e., numismatic items.
Check with your postmaster to confirm this.
It is totally illogical for USPS to not cover collectible numismatic items with their insurance, AND, it does not pass the common sense test.
A seller of rare coins or other numismatic items will have to prove the insured value if they file a claim. One full-proof method of doing that is showing a completed eBay
auction listing. BTW, in eBay shipping, the "default" amount for insurance is the amount the lot sold for. It is already filled in.
Sometimes, the amount of misinformation on this forum astounds me...
John
SFC, US Army (Ret.) 1974-1994
<< <i>
<< <i> ........................... So if you've been selling coins and buying shipping insurance as part of the eBay checkout process, you've been wasting your money as you are not covered. >>
Although I'm not 100% sure, I'm 99% sure that this exception does NOT apply to collectible coins and that they are fully insurable under the ebay offered insurance. This insurance is cost effective and useful for intl shipments. The USPS has learned their lesson and offers very limited insurance for intl shipments. --jerry >>
OK - Here's the wording from the actual eBay shipping insurance policy. There is no mention of collectibles of any kind anywhere in the policy. If you purchase the eBay shipping insurance it will not cover coins & bullion. Period.
"II. EXCLUSIONS
This Policy does not insure the following:
A. Coins, bullion, loose diamonds or stones, stocks, bonds, currency, deeds, evidences of debt,
travelers checks, money orders, gift certificates, calling cards, lottery tickets, admission tickets, or
any other negotiable documents.
B. Loss from delay, deterioration, spoilage or contamination of perishable merchandise except when
resulting from fire.
C. Merchandise shipped on consignment, memorandum or approval unless shipped in fulfillment of
an order or request.
D. Plasma televisions or monitors.
E. Loss, damage or non-arrival of any Package which:
1. Is addressed, wrapped or packed insufficiently, incorrectly or contrary to Carrier’s
packaging requirements; or ............................... " >>
Yes, I can read. That refers to monetary instruments. I've had more then one seller tell me they have checked and collectible coins can be covered for their sale price. --Jerry
No Way Out: Stimulus and Money Printing Are the Only Path Left
http://about.usps.com/publications/pub122.pdf
What Types of Claims Are Payable?
The following types of claims are payable:
¡The actual value of lost articles at the time and place of mailing.
¡The cost of repairing a damaged article or replacing a totally damaged article (not exceeding the actual value of the article at the time of mailing or the amount of insurance coverage purchased).
¡For the following items, the maximum indemnity allowed:
¡For negotiable items, gift cards, currency, or bullion, the maximum indemnity is $15.
¡For bulk insured articles, indemnity is provided for the lesser of (1) the actual value of the article at the time of mailing or (2) the wholesale cost of the contents.
¡Remittance due on a COD parcel not received by the mailer, subject to the limitations set by the standards for COD service.
¡Reasonable costs incurred for duplicating documents, such as the following:
◦Copying service charges.
◦Notary fees.
◦Bonding fees for replacing stock or bond certicates.
◦Reasonable attorneyfs fees, if required to replace the lost or damaged documents.
◦Other direct and necessary expenses or costs, as determined by the Postal Service.
◦The face value of negotiable documents that cannot be reconstructed up to the amount of insurance coverage purchased, but not to exceed the $25,000 maximum amount of insurance coverage available if sent by Registered Mail service.
◦The extra cost of gift-wrapping, if the article was gift-wrapped and enclosed in another container for mailing.
◦The cost of the outer container, if the container was designed and constructed exclusively for the article sent.
◦The fair market value of stamps and coins of philatelic or numismatic value, as determined by a recognized stamp or coin dealer or current coin and stamp collectorfs newsletter and trade paper.
¡ ETC...
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>ebay insurance and usps insurance are not the same. get usps insurance by shipping from paypal. >>
Ok, thank you! I did not know this and will make sure I am covered.
<< <i>Just ship through paypal and insure with the USPS. >>
As I posted above, the ebay insurance is offered internationally to places tht USPS insurance is not. --jerry
<< <i>
<< <i>Just ship through paypal and insure with the USPS. >>
As I posted above, the ebay insurance is offered internationally to places tht USPS insurance is not. --jerry >>
So if you have a sale of slabbed coin/coins on ebay, domestically, and the final bid or price is $1500 more or less, would you insure it or take your chances with signature confirmation? (Do not want to send registered mail, too slow). Thanks.
Or, just wait in line at the PO with the rest of us.
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>paypal insurance limited to $500. For anything over $500 or for international print shipping label at usps.com
Or, just wait in line at the PO with the rest of us.
Thanks again. I don't sell a lot, mostly duplicates from collecting, but have sent a handful of items over $500 not insured, just signature conf. Thinking now it might be reckless from the stories I read on the forum (not lost or stolen, but the buyers trying to scam on coin purchases).
Speaking as to domestic shipping insurance - EBAY DOES NOT, I REPEAT DOES NOT, have an insurance program of its own, period.
When you do the shipping labels within the eBay site, you are using a third-party carrier, such as USPS or UPS. When you purchase
insurance while doing an eBay shipping label, it is the third party (i.e., post office or UPS) which is insuring, thus said insurance is
in accordance with their rules and policies... The ability to purchase the labels through eBay is just a service, period. The exact same
thing is true with doing shipping labels/insurance through PayPal.
Anyone disagree with that? If so, why?
John
SFC, US Army (Ret.) 1974-1994
<< <i>
<< <i>
<< <i>Just ship through paypal and insure with the USPS. >>
As I posted above, the ebay insurance is offered internationally to places tht USPS insurance is not. --jerry >>
So if you have a sale of slabbed coin/coins on ebay, domestically, and the final bid or price is $1500 more or less, would you insure it or take your chances with signature confirmation? (Do not want to send registered mail, too slow). Thanks. >>
$1500 I generally send express with USPS insurance. Express mail gets you the cheaper registered mail insurance rate (about .6%). Whereas first class insurance on a $40 package is 4.5%. They would have to lose 1 in 22 for that to pay off. --Jerry
<< <i>Okay, guys. Now I am confused - please enlighten me. Speaking as to domestic shipping insurance - EBAY DOES NOT, I REPEAT DOES NOT, have an insurance program of its own, period. When you do the shipping labels within the eBay site, you are using a third-party carrier, such as USPS or UPS. When you purchase insurance while doing an eBay shipping label, it is the third party (i.e., post office or UPS) which is insuring, thus said insurance is in accordance with their rules and policies... The ability to purchase the labels through eBay is just a service, period. The exact same thing is true with doing shipping labels/insurance through PayPal. Anyone disagree with that? If so, why? John >>
Ebay offers a 3rd party insurance now. it is not the same as USPS insurance. It is generally cheaper than USPS insurance. In this thread that 3rd party insurance is often referred to as "ebay insurance". Does that clear it up? --Jerry
Does anyone have a link to this eBay insurance?
When you do a search for it on eBay, a question comes up, "Does eBay offer shipping insurance?" with the answer, "No, it doesn't."
Thanks,
John
SFC, US Army (Ret.) 1974-1994
edited to ad link to Ship Cover
which is underwritten by Firemans Fund. Just click on the series of questions at the bottom of page.
Here is the link to ShipCover's coverage:
ShipCover coverage
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
As soon as I get a response from them, I will post it here.
It would be stupid of them not to cover collectible coins, just like with USPS... Every other type of
collectible covered - come on!
John
SFC, US Army (Ret.) 1974-1994