Interesting - USPS won't pay for lost cards

MuckyMutt

Some of you may be interested in this article I just ran across Lost Cards

I know most everyone deals with mail regarding Ebay sales, but could run into this situation. I find it amusing that the PO wants proof of what was paid for them. I guess they never heard of collectibles?

grote15

I do know that when you file a claim you need to provide a receipt or proof of payment to demonstrate value. I, too, have often wondered what protocol would be for filing a claim for presently higher value items bought years ago. That said, if the article and pics are any indication (Molly RC is an 8OC at best), it is very likely she highly overestimated the value of the cards for admittedly sentimental reasons. I am sorry to hear this story and hope she gets her cards back or that they turn up.

BLUEJAYWAY

If the PO is going to base the claim on what he paid for the cards,if gotten from 5-25 cent packs, they are out of luck to be reimbursed for their full value. Even if he purchased them from a dealer in the 70/80's, and the PO is going to base the claim on what he paid for them at that time, they still won't be remitted for their full value at the time of loss,as the rise in explosive prices did not occur until the late 80's/early90's.

Beezer12

Canada Post doesn't recognize and won't pay current "retail" or book values for insurance claims on lost cards. Doesn't matter what people paid for it, the receipts you might have for ebay purchases, or what one thinks it's worth. One must have a 3rd party appraisal on the lost item in hand to collect on a claim. Ie. that Bobby Orr RC you paid to have insured for 5K is actually worth about 1-2 cents on a insurance claim based on original purchase price unless you have it appraised before shipping.

grote15

<< <i>Canada Post doesn't recognize and won't pay current "retail" or book values for insurance claims on lost cards. Doesn't matter what people paid for it, the receipts you might have for ebay purchases, or what one thinks it's worth. One must have a 3rd party appraisal on the lost item in hand to collect on a claim. Ie. that Bobby Orr RC you paid to have insured for 5K is actually worth about 1-2 cents on a insurance claim based on original purchase price unless you have it appraised before shipping. >>



That is interesting. I know that per USPS guidelines, a receipt of proof of purchase price is sufficient to file a claim. Yet another reason to avoid USPS insurance altogether and just go with private insurance policy.

MULLINS5

<< <i>

<< <i>Canada Post doesn't recognize and won't pay current "retail" or book values for insurance claims on lost cards. Doesn't matter what people paid for it, the receipts you might have for ebay purchases, or what one thinks it's worth. One must have a 3rd party appraisal on the lost item in hand to collect on a claim. Ie. that Bobby Orr RC you paid to have insured for 5K is actually worth about 1-2 cents on a insurance claim based on original purchase price unless you have it appraised before shipping. >>



That is interesting. I know that per USPS guidelines, a receipt of proof of purchase price is sufficient to file a claim. Yet another reason to avoid USPS insurance altogether and just go with private insurance policy. >>



+1

charrigan

<< <i>

<< <i>

<< <i>Canada Post doesn't recognize and won't pay current "retail" or book values for insurance claims on lost cards. Doesn't matter what people paid for it, the receipts you might have for ebay purchases, or what one thinks it's worth. One must have a 3rd party appraisal on the lost item in hand to collect on a claim. Ie. that Bobby Orr RC you paid to have insured for 5K is actually worth about 1-2 cents on a insurance claim based on original purchase price unless you have it appraised before shipping. >>



That is interesting. I know that per USPS guidelines, a receipt of proof of purchase price is sufficient to file a claim. Yet another reason to avoid USPS insurance altogether and just go with private insurance policy. >>



+1 >>



+ A Lot. I don't know why you'd ship very expensive cards without forking out $150/year to cover them with your own insurance.

Dpeck100

This is interesting. I wonder how it would apply when paying for PSA to ensure the cards sent back to us. Do they work with an outside insurer?

charrigan

That's a good question - I'm not sure, but I think they do.

From their FAQ, it is clear that have insurance for the cards "while on the premises".

"Q: How can I be sure that my cards are safe?
A: From the moment your cards arrive in our facilities until they are returned to you, PSA takes great care to ensure the safety of your valuables. **In addition to being covered by our liability insurance while on our premises**, your cards are further protected by our highly-trained security personnel and state-of-the-art security systems. Each of these components reinforces our commitment to protecting your cards throughout the grading process. "

I was always under the assumption that their had their own insurance for shipping, based on the cost. They definitely charge more than it actually costs to send the items back via the shipping options they use (USPS flat rate boxes, usually). It makes sense to me, and hence my assumption, that the extra paid for 3rd party insurance. But, I'm not sure, given the premises qualifier above.

frankhardy

It SHOULD NOT matter what the item is worth. If I pay for $500 worth of insurance to ship a box of gravel, if they don't hold up their end of the bargain to deliver, then they should pay up.

I know.... It doesn't matter what we think SHOULD happen.

EagleEyeKid

It SHOULD NOT matter what the item is worth. If I pay for $500 worth of insurance to ship a box of gravel, if they don't hold up their end of the bargain to deliver, then they should pay up. I know.... It doesn't matter what we think SHOULD happen.

+1

Stone193

Thanx for the link Scott.

I've missed your icon.

RookieWax

I think the issue here is that there was no transaction (no dollar amount exchanged for the cards) and no documentation about what was sent....it was sent from one family member to another. If this were a documented purchase or a documented grading card submission, a claim would have likely been much easier to collect on.

WhiteTornado

<< <i>I think the issue here is that there was no transaction (no dollar amount exchanged for the cards) and no documentation about what was sent....it was sent from one family member to another. If this were a documented purchase or a documented grading card submission, a claim would have likely been much easier to collect on. >>



You may be onto something there, good point.

Stone193

<< <i>I think the issue here is that there was no transaction (no dollar amount exchanged for the cards) and no documentation about what was sent....it was sent from one family member to another. If this were a documented purchase or a documented grading card submission, a claim would have likely been much easier to collect on. >>

Agree on this.

If you're gonna send cards and insure them at $XXX, it might be good idea to list the cards and the current estimated value - scans would be nice - but in this case, I doubt the woman would've done that? Unless they're gonna open the package, it appears that they should have to pay up. Otherwise, the insurance isn't worth anything but false peace of mind I guess?

grote15

After watching the video, I'm betting actual value of the cards shipped was closer to $100 than $500.

ssollars

<< <i>It SHOULD NOT matter what the item is worth. If I pay for $500 worth of insurance to ship a box of gravel, if they don't hold up their end of the bargain to deliver, then they should pay up. I know.... It doesn't matter what we think SHOULD happen.

+1 >>





If the package was truly lost by the PO, it should be an automatic payout! If the package was only damaged, but delivered, then things could be a little more complicated

mtcards

<< <i>It SHOULD NOT matter what the item is worth. If I pay for $500 worth of insurance to ship a box of gravel, if they don't hold up their end of the bargain to deliver, then they should pay up.

I know.... It doesn't matter what we think SHOULD happen. >>




Ex-freakin-zacktly


Insurance by USPS is the biggest scam in the world. If I pay $500 to insure a fart in a box and it doesnt arrive and/or gets lost, they should PAY the $500. I shouldnt have to prove value, I shouldnt have to provide paperwork, I shouldnt have to do anything other than to say....IT DIDNT ARRIVE-AND YOUR TRACKING (or lack therof) is all the proof I need.

Now when it comes to a damage claim, I agree there should be proof of value and proof of damage.

mintonlypls

USPS does not have to pay...I know from a bad experience. It just vanishes like a fart in the wind.

charrigan

IMO, the biggest scam with USPS insurance is the rate they charge. Using private insurance for multiple shipments over the course of a year is much more economical.