Shipcover or USPS Insurance

slum22

Has anyone used Shipcover through eBay. I am shipping a card valued over $1k and want to know if it would be better to use Shipcover or USPS insurance for protection. Thanks.

MULLINS5

Shipcover!

If you have to file a USPS Insurance claim, the process is a nightmare.

MantlesMantra

<< <i>Shipcover!

If you have to file a USPS Insurance claim, the process is a nightmare. >>



I echo this statement. The Shipcover claim process is a breeze and is fast.

slum22

Thanks guys. Shipcover it is.

charrigan

Check rates first. Might be cheaper to go the broader Collectibles Insurance route.

psychump

I disagree with the nightmare posts. Although it is heartbreaking to see a package or item damaged in shipment(That is all I'm talking about here,not lost package.)I simply posted before and after picture on the appropriate USPS page(after pic sent by winning bidder) with USPS receipt and in one week I received a check. This has happened twice recently.

grote15

Does Shipcover insure packages to CA? I seem to recall an exception at one point for CA addresses.

MULLINS5

If you sell a lot, I'd consider starting self-insuring packages. Just add a percentage of what you'd insure a package for to the shipping rate paid by the customer and put that money in a separate account. It'll grow pretty quickly and if you ever need to 'make a claim' just take the money out of there. If you ever stop selling, it's your money. Even though I have almost $7,000 in my 'insurance account' at the moment for my business, I still buy insurance on really expensive items sold ($3,000+).

If I have to purchase insurance I prefer U-PIC and Shipcover and avoid USPS Insurance based on a couple nightmarish experiences, which I may be in the minority on, but not an experience I would want to go through again. There are a lot of other options out there, but I can't speak for their service as I've never used them.

edit to add: when I do have to splurge on insurance for big dollar items, the money comes out of the insurance account!

baz518

I'll second whoever mentioned looking into Collectibles Insurance. Their yearly premiums are very affordable and your collection will be covered, as well as anything you sell and ship. Saving on shipping insurance will pay your premium if you sell enough. It also makes subbing cheaper too... you don't have to buy any insurance to cover your package getting to PSA, just on the way back (because they're shipping it).

grote15

However, if shipping an item that you sold to be covered, you will need to upgrade to a dealer policy. For a collector policy, mailed packages are covered as long as item was not a purchase.

charrigan

This is like eternal return of the same, but the collector policy does cover sales as part of the regular process of selling duplicates, upgrading, etc. In so far as it does, the policy also covers mail loss when selling items. However, if you sell a "lot", you need a dealer policy to be covered for any sales. If you want to know what "a lot" is defined as, consult Collect Insure.

grote15

<< <i>This is like eternal return of the same, but the collector policy does cover sales as part of the regular process of selling duplicates, upgrading, etc. In so far as it does, the policy also covers mail loss when selling items. However, if you sell a "lot", you need a dealer policy to be covered for any sales. If you want to know what "a lot" is defined as, consult Collect Insure. >>



That sounds very ambiguous and a way for them to deny a potential claim.

A fellow collector friend of mine was told by a rep that a claim could be denied for a purchase item if policy is not a dealer policy. If that is incorrect, then erroneous info was provided, but that seems at least to be uncertain.

charrigan

It's insurance. There is always assessment.

And, you're right, a claim can be denied because it was a sold item.

However, it is not always denied when sold.

The question spins on whether one is acting as a "collector" or a "dealer".

The line is fine - that's why one should consult with the entities that make those decisions. But, generally, if one is buying/selling as part of the normal process of collecting (selling duplicates, selling cards that you once possessed as part of your collection but no longer would like to keep to finance other purchases, not just trying to flip cards to make money, etc.), you are covered under the "collector" policy.

I *believe*--though am not sure--that they make the decision based partly on the total value of the cards that you have for sale at a given moment relative to the size of your collection. A certain percentage is allowable. Again, ask them.

For some people, the chances of claim denial on those grounds is very low.

grote15

But what is considered a normal course of collecting and not trying to flip an item for profit? It seems very subjective. If you sell an item at a loss, as opposed to a profit, then you are covered? Not trying to be flippant here, but part of the benefit of an insurance policy is peace of mind and not wondering if you are covered or not.

Has anyone here had firsthand experience with a claims process for an item they sold?

charrigan

I agree that it is subjective, but I believe they have objective metrics that loosely correlate with their philosophy in that regard. Percentage available for sale, I think. And, you can discuss this with your rep and get relative certainty regarding coverage.

All insurance claims are subject to denial. There's no certainty in anything, homeowners, etc. That's just the business.

KendallCat

Going through this process right now with insuring my collection. Have my homeowners through USAA, and they have a third party that insures collectibles. They told me no problem to insure my cards and took my payment ASAP . One thing they did inform me about is insuring it if I sold a card, and they said once it is sold it is not covered - does me zero good of I ship a card using my insurance. Sounds like if I want to ship a card best choice is signature confirmation with insurance. Anyone have any other ideas of how to ship cards in the $5000-10000 range without spending several hundred dollars? Thank you.

KC

charrigan

BTW--should have said this earlier but forgot--if you *just* want insurance when shipping cards, you can buy a dealer policy from Collect Insure for the max value of a single shipping loss (let's say, hypothetically, the OP expects not to sell a card over $2000 but many in the $500-$1000 range---going with a $2000 limit) for pretty cheap. Around the cost of a $20000-$30000 collection "collectors" policy. Or, $150 or so a year. Then, no uncertainty regarding mail loss coverage.

Just thought I'd mention it. OK, no more repping CI -- you all can look into it based on your own needs if interested. They should pay me.

grote15

<< <i>BTW--should have said this earlier but forgot--if you *just* want insurance when shipping cards, you can buy a dealer policy from Collect Insure for the max value of a single shipping loss (let's say, hypothetically, the OP expects not to sell a card over $2000 but many in the $500-$1000 range---going with a $2000 limit) for pretty cheap. Around the cost of a $20000-$30000 collection "collectors" policy. Or, $150 or so a year. Then, no uncertainty regarding mail loss coverage.

Just thought I'd mention it. OK, no more repping CI -- you all can look into it based on your own needs if interested. They should pay me. >>



The other part to factor into the equation is the deductible for a claim filed~I believe it is $200 per item, so if you are shipping a lot of $200-$400 packages, such a policy is probably not cost effective for you.