Insurance for shipping chips? (1 Viewer)

[Sprinsd]

I am about to ship my first set of chips to a buyer. They are worth around $1,500. Should I get insurance? If so, is the buyer required to sign if insurance is purchased? Won't that be a pain to the buyer? It will be priority flat rate through USPS. Thanks!

 

[derekdd23]

Yes. Also if you insure it for the actual value signature require is not optional, it's required.

 

[Blaster]

Think about it ..
.I would almost, ( no definitely), think a seller was negligent, if he sent me, or considered shipping me One Thousand five hundred dollars worth of anything, in a simple "toss it on the steps", uninsured shipping method ..
Doesn't matter if it's $1500 worth of chips, rare coins, diamonds or whatever ...
And, if a buyer is pressuring you into sending such a valuable box with no signature, and no insurance, he may be the guy actually waiting to swipe it off the addressee's porch while the actual resident is at work ...
Usually if the insurance is that high the carrier will automatically take a signature, check with your Post Office .. if not , pay the two dollars & change for the signature required ...

 

[luckbox]

no brainer....pay it and require a signature at delivery even if they dont

 

[Sprinsd]

Perfect, I can always count on this board for quick honest feedback!

 

[Puggy]

And when packing...use double cartons. That is, pack really well so that the chips don't move inside the box.

 

[CdnBeerLover]

Whenever I've sent chips, I've used a method requiring a signature, and I tell the buyer that's a requirement for sale. As a shipper, it's as much for my peace of mind as theirs.

 

[DrStrange]

This is two separate issues:

For items worth serious money, always require a signature. This is good for everyone - even the guy who has to go to the post office and pick the item up (rather than leaving a package on the step or in the box.)

USPS insurance is of dubious value. We have had a number of prior threads about how insurance only covers items never delivered. Damaged goods are not always going to be covered. In my opinion you are better off spending the time/money on an outstanding packing job.

In short, pay for signature delivery but the insurance is optional -=- DrStrange

 

[liftapint]

This is two separate issues:

For items worth serious money, always require a signature. This is good for everyone - even the guy who has to go to the post office and pick the item up (rather than leaving a package on the step or in the box.)

USPS insurance is of dubious value. We have had a number of prior threads about how insurance only covers items never delivered. Damaged goods are not always going to be covered. In my opinion you are better off spending the time/money on an outstanding packing job.

In short, pay for signature delivery but the insurance is optional -=- DrStrange

I agree with this completely.

 

[abby99]

USPS insurance might be dubious, but IMO it's better than nothing for shipments that are worth more than what I want to self insure. In addition to buying insurance, packing over-the-top well (will it survive a 10-foot fall onto concrete or being at the bottom of the load?) and requiring a signature should do the trick in most cases. However, when it comes to USPS, nothing is foolproof.

 

[guinness]

Insurance is a standard play. Save yourself an uncomfortable river decision.

 

[Psypher1000]

 

[Potsie1]

And the #1 reason.
Anything over $750 is required to have a signature if you are receiving the money via paypal.
Lets say you send it with tracking. You insure it. It shows delivered. The buyer tells paypal they didnt receive it. You lose. They get the money back 100% of the time. You MUST require a signature with delivery confirmation if you received the money via paypal to be protected. I would never risk it no matter who I was sending them to.

In short, pay for signature delivery but the insurance is optional -=- DrStrange

Yah what he said. Signature is better than insurance however on this particular transaction I think it would be prudent to include the insurance as well.

 

[DrStrange]

USPS insurance is roughly 1% of the value insured. Then there seems to be a sizable chance they don't pay for anything but a totally lost package.

I think we don't have the same definition of "sucker" -=- DrStrange

 

[Potsie1]

I think we don't have the same definition of "sucker" -=- DrStrange

Edited for clarity

 

[luckbox]

In my opinion you are better off spending the time/money on an outstanding packing job.

In short, pay for signature delivery but the insurance is optional -=- DrStrange

ok if you send a package with signature delivery but with no insurance what happens if the package is lost? i think most here will agree 100% on packing but what good is a super pack job and signature delivery that never makes it to the guy that just paid $1500 bucks....and im guessing either buyer or seller is going to get hosed??? :

 

[derekdd23]

This is actually simple.

Have the buyer pay for what they want and tell them that if they don't want insurance, you are not responsible.

 

[Blaster]

This is actually simple.

Have the buyer pay for what they want and tell them that if they don't want insurance, you are not responsible.

No! A nightmare waiting to happen, .. That doesn't work, & is bad advice in general for someone shipping $1500 worth of stuff in a box..
Someone pays $1500 for nothing that arrived, & then at that point is actually going to agree to "eat" the money? .. When they file with Paypal the seller loses, period.. Which they will do, regardless of what they may have claimed or "didn't realize" to the seller..
As I mentioned earlier, I would definitely think a seller was negligent, if he sent me, or even considered shipping me One Thousand five hundred dollars worth of anything, in a simple "toss it on the steps", no signature uninsured shipping method ..
Simply build it into the sale price .. It's not a big deal to add $2-something for signature & whatever for flat rate insured up front, instead of quibbiling over a few extra bucks after a $1500 sale ..

 

[links_slayer]

Here's how I look at it:

Insurance: covers you against loss/damage during shipping
Signature Confirmation: covers you from someone lifting the package from the porch/mailbox/etc

For a $1500 package you can bet I'm getting both (even though I have had zero success w/ USPS insurance claims )

 

[H|Q]

After recently getting scorched by USPS insurance for a partial delivery of contents, I will not bother sending expensive sets with them again. I'll go to a private company like FedEx or UPS for those deliveries and get the insurance.

It will cost more, but at least I'll have protection. The USPS is a federal agency, and if they don't honor your claim, you can not litigate against them due to their federal protection.

 

[derekdd23]

No! A nightmare waiting to happen, .. That doesn't work, & is bad advice in general for someone shipping $1500 worth of stuff in a box..
Someone pays $1500 for nothing that arrived, & then at that point is actually going to agree to "eat" the money? .. When they file with Paypal the seller loses, period.. Which they will do, regardless of what they may have claimed or "didn't realize" to the seller..
As I mentioned earlier, I would definitely think a seller was negligent, if he sent me, or even considered shipping me One Thousand five hundred dollars worth of anything, in a simple "toss it on the steps", no signature uninsured shipping method ..
Simply build it into the sale price .. It's not a big deal to add $2-something for signature & whatever for flat rate insured up front, instead of quibbiling over a few extra bucks after a $1500 sale ..

eBay and private sales are different. eBay you cover your own ass, private sales is up to the buyer. I always pay the money for insurance services, i dont need the signature required since I work from home and always meet the mail man, but they are required in packages over $500 anyways. The buyer should be made aware of the risks if they want to save a few bucks, I have had several people ask for no sig on packages under the $500 since they live in an area where theft isn't any concern.

 

[guinness]

I sent out 5 boxes worth $1500 each yesterday. $110 for insurance ALONE. Now I'm biting nails hoping they get there safe.

 

[JoseRijo]

The best insurance would be to use real, heavy-duty boxes instead of the flat-rate ones.

 

[detroitdad]

The best insurance would be to use real, heavy-duty boxes instead of the flat-rate ones.

That doesn't prevent USPS from losing the shit or someone swiping it off your front porch

Insurance is whatever. SIG. required is a must if I'm shipping anything over 400 bucks.

 

[Blaster]

... Also getting the insurance from U-pic (website) for USPS shipments can save 50-85% ...