32 replies to this topic

[npark]

I have come full circle and completed the Ho'ing process...I am now a true Ho.  You ask how, I have started selling some of my previous purchases to fund new ones lol. So here is where my question begins, other than selling a few random odds and ends (most in the $100 range) I have not sold 'expensive' purchases (until recently).  When I sold the cheaper items sending them via Priority Mail with insurance was cheap, around $1-2 added to the shipping cost for the insurance.  Well I sent a 910 D2 with a Fubuki out the other day and when asked how to insure it for I said $600, after all that is full pop retail with the upgrade.  I was shocked to see that added over $8 to the shipping cost, now I know that is a small amount to protect me and the buyer but it's just a big (proportionally) jump from ~$1 for $100 worth of insurance or ~$1.75 for $200.  The simple and direct question is...do you insure for replacement value or selling price?  Also has anyone ever had to make a claim against the insurance policy?  Did they pay full replacement when it was insured for that value or try to give you a 'depreciated' amount?  


Thanks

Nate

Edited by npark, 05 May 2012 - 08:32 AM.

[squishyy]

You can always insure for how much you think you can buy that exact combo for in second hand market not retail.

[Golfjunki71]

Selling price
Why purchase price you're not going to buy another one and ship . You would just refund.

[Fourmyle of Ceres]

That's way over-buying the insurance. Even if you insure a $200 driver for $600 they are not going to hand you $600 if they lose the package.

The best estimate of what the item is worth is simply the exact amount the buyer just paid you for it. So if you want to buy the insurance, just use the selling price as the insured value.

[hogan234]

You need to insure for the actual selling price. I've had to file claims for both UPS and USPS and they ask for a receipt or proof of transaction (Paypal payment confirmation, Ebay purchase confirmation, etc.). If you're the seller and there is a claim situation, you should refund the buyer and file a claim.

[npark]

Awesome, thanks guys.  It makes sense the way you put it.  I have wasted some money in insurance costs over the past few weeks but oh well, until I knew what was right I'd rather error on the over-protected side.  No harm and no major monitary loss, however I get to save from here on out :-)

Edited by npark, 05 May 2012 - 08:32 AM.

[BuckyBadger]

Isn't there something about needing Signature confirmation and shipping to confirmed Paypal addresses to make a claim for the USPS?

[RACMB's&TP's]

I usually always insure either the purchase price or at least the cost of the shaft if I need to replace it. I've never had to file a claim or had a problem, but I figure if something is going to get broke it will probably be the shaft. I still prefer USPS priority for everything, but their insurance prices are terrible!

[goondawg]

BuckyBadger, on 05 May 2012 - 09:55 AM, said:

Isn't there something about needing Signature confirmation and shipping to confirmed Paypal addresses to make a claim for the USPS?

I think you just need signature confirmation if over $250.  Maybe $200, can't remember exactly

Edited by goondawg , 06 May 2012 - 03:53 PM.

[T Shaf]

goondawg, on 06 May 2012 - 10:44 AM, said:

BuckyBadger, on 05 May 2012 - 09:55 AM, said:

Isn't there something about needing Signature confirmation and shipping to confirmed Paypal addresses to make a claim for the USPS?

I think you just need signature confirmation if over $250.  Maybe $200, can't remember exactly

good thing about insurance is that it requires a signature - that's why I almost always insure when sending USPS.  And yes whatever you insure it for you better have proof you paid that amount - if it's a used club I always insure for sale price - if it's a brand new club and I have a receipt then I insure it for what I bought it for.

[dhacker56]

USPS insurance does NOT require a signature unless it is over a certain dollar value.

[BuckyBadger]

So do I need to buy Signature confirmation then if I buy $300 of insurance on an item? The buyer has to sign for it over $250 anyway or do I need the Signature confirmation number for tracking purposes?

I'm just making sure I'm not paying more than I need to. Maybe I just need Delivery confirmation and insurance.

[dhacker56]

If you insure an item for more than the minimum it requires a signature.  You do not need Signature Conf and Insurance to get a signature unless the value is so low as to not require more than the minimum insurance.  

Online postage for priority gets you FREE Del Conf. plus a % off the window postage.
You can also request FREE carrier pick up the next day.

Edited by dhacker56, 06 May 2012 - 12:36 PM.

[T Shaf]

There is no minimum insured coverage for USPS Priority Mail...check their website - there is $100 minimum for Express mail - that's it.  

and yes there is no requirement for a signature for insured items under $200...that is the only criteria - but there are many times will the carrier will require it anyway - I've had to sign for many insured packages less than $200

glad we got that straight.

[dhacker56]

I am aware that you can insure for anything you want.  What I am saying is NO signature is required unless the amount of insurance is more than the minimum coverage amount.  FI  if the minimum insurance charge is $1.10 for $100 coverage  then NO signature would be required unless the next level of insurance is needed.

[T Shaf]

Where are you coming up with this?  Their website clearly states that a signature is required for any insured item over $200.  Seems pretty simple to me.

What is the minimum insurance you mention.  With priority mail you don't automatically get any insurance.

Edited by T Shaf, 06 May 2012 - 03:40 PM.

[dhacker56]

I worked for the USPS for 32 years as a carrier.  And if you read what I wrote I plainly said that if an item was insured below a certain value NO signature was required. How is that different from what you posted.  "Anything under $200 does not require signature".
I delivered a MILLION of them in 32 years.  When I retired the anything below the level that cost $1.10 for the insurance did not require signature.

[T Shaf]

I suppose that does make you somewhat of an expert;)

We may be saying the same thing but very differently, just seems a little easier to say less than $200.  And again it does depend on the carrier, for example, my new carrier wants me to sign on any insured package - previous one did not (i miss her btw, she just retired) Just had to got to the PO to sign for an insured package of $100. this is why I have researched it.

Any way, thanks for your input.

[dhacker56]

Actually the rules are all the same for all carriers.  I phrased mine that way because I was not sure of what the current minimum requirement for signature is.  When I carried it was $100.

[npark]

Some additional/unexpected good info came out of this thread, I now know that if I am insuring over $200 then I don't need to pay for delivery confirmation. Thanks guys

[dhacker56]

npark, on 06 May 2012 - 08:44 PM, said:

Some additional/unexpected good info came out of this thread, I now know that if I am insuring over $200 then I don't need to pay for delivery confirmation. Thanks guys

One NEVER needs to pay for Delivery Confirmation nor set foot inside a post office again.
www.usps.com  EVERYTHING can be done online With Priority mail Delivery Confirmation is FREE as is Carrier pick up at your door the next day.  And the shipping cost is LESS than going to the post office.

[BuckyBadger]

npark, on 06 May 2012 - 08:44 PM, said:

Some additional/unexpected good info came out of this thread, I now know that if I am insuring over $200 then I don't need to pay for delivery confirmation. Thanks guys

I think you need to have delivery confirmation for tracking purposes. If you just get insurance, the buyer can't track the package.

[RookieBlue7]

Insure for the selling price only because that's the amount they'll cover up to. Never had to file a claim but I asked the postmaster here about it because I knew her from my previous job when I had to drop mail off there. She told me they'd only cover for the purchase price. Print the labels online because they're cheaper and then utilize carrier pick-up. It's free too

[BuckyBadger]

dhacker56, on 06 May 2012 - 09:00 PM, said:

npark, on 06 May 2012 - 08:44 PM, said:

Some additional/unexpected good info came out of this thread, I now know that if I am insuring over $200 then I don't need to pay for delivery confirmation. Thanks guys

One NEVER needs to pay for Delivery Confirmation nor set foot inside a post office again.
www.usps.com  EVERYTHING can be done online With Priority mail Delivery Confirmation is FREE as is Carrier pick up at your door the next day.  And the shipping cost is LESS than going to the post office.

Yeah, I can't leave a $200-$500 club sitting outside my house for nine hours waiting for the mail carrier to pick it up. I have seen it's cheaper to print out your own labels but I'm too lazy.

[RookieBlue7]

BuckyBadger, on 06 May 2012 - 09:12 PM, said:

dhacker56, on 06 May 2012 - 09:00 PM, said:

npark, on 06 May 2012 - 08:44 PM, said:

Some additional/unexpected good info came out of this thread, I now know that if I am insuring over $200 then I don't need to pay for delivery confirmation. Thanks guys

One NEVER needs to pay for Delivery Confirmation nor set foot inside a post office again.
www.usps.com  EVERYTHING can be done online With Priority mail Delivery Confirmation is FREE as is Carrier pick up at your door the next day.  And the shipping cost is LESS than going to the post office.

Yeah, I can't leave a $200-$500 club sitting outside my house for nine hours waiting for the mail carrier to pick it up. I have seen it's cheaper to print out your own labels but I'm too lazy.

You can drop them off at the PO, and you can also set up the carrier pick up for any location that's accessible to the carrier, even your office at work if need be. Don't have to leave it sitting out either, can put for them to knock on the door or several other options.

Edited by RookieBlue7, 06 May 2012 - 10:23 PM.

[RJRJRJ]

You can insure for replacement value.  Considering that that may require to order a brand new one, youll have to prove the price of a replacement.  Thats why insurance on jewelry/watches require an appraisal.  For watches is basically just a letter from the dealer stating the current retail price.

[Fourmyle of Ceres]

If you're lazy, you should definitely buy and print your labels online. It literally takes less time than going through the conversation with the postal clerk about shipping options. And cheaper. And free delivery confirmation. And most (but not all) of the time you can drop the pre-paid, labeled package off at the Post Office counter without waiting in line with the folks in there to buy stamps and ask questions. And it automatically sends an E-mail to the recipient given them the tracking info.

Much less work doing it online. The only hassle is the five minutes it takes to set up a USPS shipping account in the first place. After that it's all gravy.

[mahanate]

+1 x 1000 to the post above.

[BuckyBadger]

Fourmyle of Ceres, on 07 May 2012 - 08:11 AM, said:

If you're lazy, you should definitely buy and print your labels online. It literally takes less time than going through the conversation with the postal clerk about shipping options. And cheaper. And free delivery confirmation. And most (but not all) of the time you can drop the pre-paid, labeled package off at the Post Office counter without waiting in line with the folks in there to buy stamps and ask questions. And it automatically sends an E-mail to the recipient given them the tracking info.

Much less work doing it online. The only hassle is the five minutes it takes to set up a USPS shipping account in the first place. After that it's all gravy.

Do you need a scale to weigh the box? I always thought about printing out labels online. Should have started 200 feedbacks ago. I would have saved some money!  

[Tidiliwomp]

Does any one have a PDF copy of the insuring agreement from USPS?

I am curious about the coverage and would like to read the policy form but can't find a copy on their website.

Sounds to me like the real issue here is if you are reporting/covering replacement cost or actual cash value of the items.