Is insurance on items worth it?

[casuallyattractive]

Is it worth it to include insurance on items?

I have friends that sell on eBay and they say that it is very hard to get your insurance money if the item was lost/stolen/missing.

Is there any credibility to this?

[casuallyattractive]

@downunder-61 

[casuallyattractive]

@ckimodog 

[varebelrose]

I have only ever tried to claim USPS insurance 3 times, and every time it went through with no problem. Others have a different story. I wouldnt purchase any above and beyond what comes standard here with Priority mail unless it was a high value item, and also be aware that it only covers the cost of the item, not the original postage cost.

[casuallyattractive]

Okay, I sell a lot of iPhone on one of my other accounts and include insurance every time.

One of my other friends @phonesfortheworld sells a lot of phones to.

I do not know if he includes insurance but I do know that phones are the biggest items for people tat want to scam others. (Buyer and Sellers)

I would appreciate the help.

[fab_finds4u · Accepted solution]

It's  easy to get nsurance to pay if it's lost during transit.  It will not pay for missing after delivery.  They will pay for damage if it was sufficiently packaged however you need the buyer to cooperate and they normally won't. The buyer needs to provide pics and or take it to the PO for inspection and many won't.  They file a not described case instead and eBay has them return it to you, which voids the insurance.

[casuallyattractive]

😶😑😐

Yeah, I could understand that.

[redlinear]

Nope.  You INSURE and ship 1000 packages.  Have problems with 10 of them.....Make 10 claims and ONE gets paid.
They other 9 packages?  They will tell what YOU did wrong and deny the claim. 
No insurance: The money you saved by not paying insurance on 1000 packages is far more than the loss.

[tools*]

I usually insure things that sell for $400 or more, but I use private insurance (80¢ per $100) and they pay claims.

[buyologist-3]

Signature Tracking is the best deal, both for money and security.  If there's a problem, ebay will take tracking over insurance to defend you in a case.  Insurance takes a long time IF it works at all.  I lost over $300.00 that way.  I vote for Signature Tracking!

[casuallyattractive]

@tools* 

What type of private insurance?

[ward_warehouse]

I always insure if it's over $100, sometimes even a bit less. It's not that much considering there's a lot of profit room on items over that expensive usually, I just treat it like an extra shipping cost. You might have to fight a bit if it shows up damaged, but it's basically guaranteed if it was lost. 

[casuallyattractive]

Great, thanks guys

[downunder-61]

Sorry, I didn't see your tag until just now.

I am not any good with insurance as I am in Australia and have no idea how it all works over there in the US but  you have been given some good advice, so good luck with it all.

[lja440]

I'm a mail carrier as well as an eBayer.

Do not sell what you can't lose. There are far more scammers than lost or damaged packages.

Good packing skills are the best insurance. Having insurance doesn't mean squat if you pack poorly as they won't pay for damage if the package is deemed insufficient packing.

On the flip side. If you live in an area that has a lot of theft from porches and mailboxes, insurance may not help. In fact this isn't covered under carrier insurance, it falls under your homeowners or renters insurance.

So should you insure your packages?  Lets put it this way. I have been on eBay since 2004. I have insured 2 packages. A HD leather jacket and a Billy Cook saddle, both sold for over $600. I have sold and shipped hundreds of packages. Zero lost packages, the few packages that have had visible damage the contents have all been fine as they were either double boxed or the shipping box was lined with a plastic bag.