Insuring Raw Cards Sent To PSA Through USPS...

Dpeck100

For the first time ever I sent cards to PSA today and didn't insure them. I am not a huge submitter but have sent a good number of orders to PSA in the past five and a half years and insured every single one of them.

I have never had one issue and have spent over $50 on a few orders getting a large amount of insurance. The piece of mind was the reason I purchased it but in reality it doesn't give you an ounce of piece of mind.

After doing some research on the topic and speaking with the postal clerk today I sent the order with no additional insurance. We had a very candid discussion and he said it wasn't a good idea to buy it because your chances of collecting are slim and none. They will sell you insurance on anything but getting paid out is an entirely different issue.

Unless you have proof of the value of the goods and your opinion doesn't qualify, you aren't getting paid.

The reason we must declare a value when we sub to PSA is the return shipping when the cards are in their holders (assuming graded) you have proof of the value and can be compensated.

Hopefully this order goes off without a hitch and I just thought I would start the thread to share the information from our conversation. With raw card submissions you are wasting your money.

rexvos

I never have insured. Usually not an issue with priority shipping.

StamkosFan

USPS insurance is a big joke and a waste of money. I believe value has nothing to do when trying to recoup if the item is lost. They want proof of purchase (what you paid or buyer paid) from a receipt. Showing a paypal receipt or credit card statement, etc. So if you bought a $500 card a couple years ago and you sent it off to PSA to get it reholdered and it gets lost; they want to see what you paid for it and not the relative value of that card. They make it very difficult for you to collect. This is what was told to me. Buy your own insurance. I'm not even sure how or what PSA uses on insurance. I never see insurance on the box. Only a flat rate priority box with signature confirmation.

milbroco

Stamkosfan - What do you mean, "buy your own insurance?"

This thread is making me reconsider sending anything I do not have a receipt for to PSA.

Robert

Dpeck100

Review submissions where you are more prone to have proof of purchase might have a higher recovery rate but even then if they were purchased years ago and at lower prices you are toast.

I sent in 78 cards in this submission including some for a friend and the vast majority I could not only never prove the exact price I paid there is no chance I could get compensated for the cards that grade high.

Just imagine sending in really sharp commons from a popular set that have the potential to sky rocket in value if they grade high. They are raw and the condition and potential value is your opinion.

It is a very interesting subject.

Constantine

I am a fan of shipping under the radar. A small box with a $45 postage cost on it is a huge red flag that there is something very valuable inside. A couple of times I have shipped to Asia for around $1k of items and didn't insure. Some may think that is crazy, but it is a calculated risk, and I truly do believe that discrete packaging and no high dollar shipping labels won't attract attention.

I have collectibles insurance and can get full coverage on Registered Mail, Express, and FedEx. I have a limit of $2500 for USPS/UPS as long as there is signature confirmation. Another tip I have heard is to not spring for the extra money on insurance, but rather Express mail. It is pretty secure since there is extra attention given to having the item delivered on time. Plus with the fast delivery you can rest easier when you know it has arrived safely.

StamkosFan

Stamkosfan - What do you mean, "buy your own insurance?"

There are independent companies out there that will insure your items. I know there are board members here that use them (I don't) like mullins5 so maybe they can chime in and explain it better.
I believe it's an annual contractual thing and fairly cheap.

And FWIW, I don't use usps insurance. Everything ships priority mail to PSA with dc or sig conf.

StamkosFan

A small box with a $45 postage cost on it is a huge red flag that there is something very valuable inside.

Agreed. They might as well put a label that says "please steal me."

Meatloaf

<< <i>A small box with a $45 postage cost on it is a huge red flag that there is something very valuable inside.

Agreed. They might as well put a label that says "please steal me." >>



WHAT THEY SAID

begsu1013

just about all insurance is a joke, even in blackjack.

hell, even flood insurance only covers a max payout of $250K.

and most people don't even realize this!

kerryville

I'm a Postal worker and you are correct in saying insurance is a joke to collect on. I have been on eBay since 1998 and had to fight with the post office to collect insurance. Invoices, paypal receipts, eBay auction form were all needed to claim on eBay purchases. Now onto unknown value cards going to PSA you can insure, but as dpeck stated it will be difficult to claim hoped for value. I have never had a packaged lost or damaged going to PSA fingers crossed I never do. Hope that helps confirm dpeck.

Slabbed

I've had a different result. I sold a 57 Berra PSA 7 to someone in Las Vegas had it insured for about 60 or 70 dollars. Card was sent and all that was ever found was the shipping envelope all torn and mangled put my claim in and I was paid for what it was insured for. Guess i am just one of the lucky ones.

Dpeck100

<< <i>I've had a different result. I sold a 57 Berra PSA 7 to someone in Las Vegas had it insured for about 60 or 70 dollars. Card was sent and all that was ever found was the shipping envelope all torn and mangled put my claim in and I was paid for what it was insured for. Guess i am just one of the lucky ones. >>




The key is raw vs. graded. If it is raw it is impossible to prove the condition or value. If it is graded it is possible for a full recovery. I would also think one card vs. a large number improves your chances.

gemint

I self insure through collectibles insurance. I just have to send it with signature confirmation and I'm covered after the $200 deductible. It's true that the post office will only pay out based on the cost of the item, not declared value. So it does you no good to insurance a card for $100 if you can only prove you paid $1 for it. For stuff bought on eBay, it's easy. They do accept the eBay auction close info as proof. I was able to get credited back $900 on a Seaver RC that wasn't as described based on the fact I had the proof that's what I paid for it (actually paid more than that but only insured it for $900).

Dpeck100

My package made it safely to Newport Beach. I wasn't worried but nice to see.

rexvos

<< <i>My package made it safely to Newport Beach. I wasn't worried but nice to see. >>


as did mine. of course mine was an all modern sub with nothing of outstanding value in it. Glad to see it logged today.