eBay may need to look into cheaper Insurance coverage

[santamonicajeweler]

I insure all my packages.  Insurance cost is very high on eBay postage options in compared to other sites. Hope, eBay corrects this issue before Christmas season  

[santamonicajeweler]

@releasethekraken_1 Obviously, you haven't ever dealt with this problem, I understand your frustration. However, if you don't have the experience, you think you're correct. You need to always give benefit of doubt for experiences you never had so you could think in positive way, my friend

It has nothing to do with knowledge at this point, this is all true experiences. Had a customer, purchased a Silver Coin, mailed Insured delivered to his locked mail box key with Postperson. In matter of few hours, item got stolen. Buyer opened a "Item Not Received" case. I loaded the tracking record showing item delivered. Case closed.

I didn't have the insurance agancy's number so I called eBay, asked them how we could help this Buyer. I was given a phone number. I passed it along with a copy of my invoice for Insurance coverage. It took him three weeks but he recovered his loss

In this case, it was only $40 plus shipping 

So, I have no idea what you're talking about

Have a nice day!

[santamonicajeweler]

@orangehound read above please

[santamonicajeweler]

Hello eBay,

How can I and many others could have access to cheaper insurance coverage provided by you? We don't want to go out of eBay to buy postage or insurance coverage. 

Thanks

[theteamsetguy]

I ship all of my expensive cards thru the post office via registered mail. Cost is $42.10 plus actual shipping costs for up to $25,000.00 in coverage and It’s $1.20 for every $1,000.00 after $25,000.00. I recently shipped a Michael Jordan rookie which sold for almost $10k registered mail. I have sold items for more than that and have never had a problem with usps registered mail. I usually charge the buyer $50.00 for shipping and eat the rest on my expensive items.

[santamonicajeweler]

@theteamsetguy 

That's about right. Insured Registered Mail is the oldest and safest way to go. Registered Mail just takes too much time. Last time I did it, took two weeks for package to reach my buyer

There are faster, overnight alternatives out there. You could call Jeweler's Board of Trade or JCK and ask for shipping company referrals. I think you'll enjoy the overnight access

[mrdutch1001]

eBay isn't in the insurance business. eBay supplies a platform on which sellers can sell their wares. eBay is not responsible for any insurance YOU may want to provide for the security & safety of shipping an item.

Heaven forbid if eBay should mess with seller's items anymore than they already do!

Insurance for items you ship is YOUR job as a seller. Deal with it. The millions of other sellers do...

[santamonicajeweler]

@mrdutch1001  Ebay is an insurance salesperson. YOU need to read this thread from the start

Two billion transactions a day on eBay. It's time for eBay to provide cheaper Insurance 

[1tuna]

I have read this entire thread..I rarely ever feel the need to buy insurance

you  have plenty of  items that are $500 that are  small and can be shipped first class with no insurance

jewelry or watch dials are not going to  break. jewelry  is light weight and simple to ship

when I   ship an $800 watch by usps 1st class I will throw 300 of insurance on it but thats it

the only reason I  do that is I am afraid  of the signature confirmation  screw up because of the covid thing

I  ship 1500 packages a year in the USA and they never get lost with first class

I figure I saved $3000 by not insuring them. I have a high risk tolerance but jewelry is not a breakable item as far as I am concerned

[mrdutch1001]

eBay is not selling insurance. eBay is providing access to the shipping processes and the seller picks the shipping method of the carrier that includes the insurance as needed. eBay is simply providing the options that are offered from the shipping carriers. If I want to have an insured shipping method for an item I pick the method that offers that...if an item doesn't need any insurance, I pick the shipping method accordingly...eBay has nothing to do with it. It's between me and the shipping carrier. eBay supplies the means by which you make the selection.

[santamonicajeweler]

@mrdutch1001  "eBay is providing access" okay

eBay takes money from your Payouts and applies it to your insurance coverage that's called selling insurance. eBay is acting as an go between agent or insurance salesman. If I need an invoice showing I have paid for the insurance, I have to go to eBay, the itemized invoice is not available

Now, I am asking eBay to provide a cheaper insurance program, are you with me or not!?  

[santamonicajeweler]

@1tuna Sure, but I am not that brave brother

[mrdutch1001]

The monies from eBay payouts is applied to the shipping costs as a whole, and includes the price of the insurance if insurance is included and/or added to the shipping costs. However, if an insurance claim needs to be opened , the insurance claim is NOT with eBay, it is a process that goes through the shipping carrier so in fact it is the shipping carrier that is the insurance agent, not eBay when it comes to opening an insurance claim. The invoice/statement from the printout of the shipping label details of shipping carrier used will also show whether or not insurance is included/added, and will show the amount of insurance.

However, since you are fixated on eBay as being your insurance agent, I shall leave you to it...

I am not about to debate this subject any further as I'm outta this conversation and gone from this never-ending thread that is just going to keep going round in circles ...

[santamonicajeweler]

@mrdutch1001 Yes, sure

First question asked by underwriter; where was insurance purchased?

eBay 

[johnrj1226]

"If wishes were horses beggars would ride."  or this '69  'Stones" song might apply too - https://www.youtube.com/watch?v=jv9sDn_2XkI

Insurance rates are set by the carrier you select - the carrier pays the claim not eBay.  You have the option to choose "Ship Cover" on eBay it cheaper - your call.  eBay is not set up to process insurance claims.  Ship via one of the USPS Priority  mail services get $50 or 100 (for TRS sellers) and it is free.

As a seller on eBay, shipped 1665 packages only one was damaged & two were lost = 99.81% w/ no issues or claims.   Plus  as a buyer on eBay received over 200 items w/o any issue.  Buyers are protected by eBays Money Back Guarantee they don't need to care - insurance is only for the protection of the vendor.

It think my insurance on my home/property, auto, boat, health, life is too high too but...gotta' have it - been with my carrier auto since 1967 - not the highest, not the lowest but  priced in the middle aand has handle my issues in a timely & equitable manner.

[johnrj1226]

Profit is made or lost  at the time you source your inventory.   If $175 on a $10K sale makes the diff between profit  or lose you are doing something really wrong -   that  $175 ONLY represents 1.75% of your selling price. If your insurance cost were cut in 1/2,  your profit or loss would only improve by .875% hmmmm.

On a total shipment of 1665 packages I averaged 47% GP based on total purchase price (including shipping cost).  Never sold a 10K item - but sold in the tete-a-tete  world, capital equipment in a very saturated & competitive market for 41+ years, where selling prices  were $20K+ on most popular models and well into the 6 digits ( few an far between sales) - GP was every thing - my commission/pay checks depended on it & is how I put  "beans on the table", roof over our heads, children's education beyond HS - like USC, Cal-Poly, etc. etc.

Never sold as a ONFPO - Obliviously Not For Profit Organization.

Know a little about Rolex watches (my  younger brother retired from a jeweler that sold them)- New Rolex watches are sold thru select authorized dealers - not (mall chain jewelers)  and the selling prices are established by the manufacturer and the jewelers cost is fixed.