jhammill24 Posted July 26, 2014 Share Posted July 26, 2014 Mailing off my first sale on eBay today. Should I insure it? The item is worth $200. The address is confirmed and I'll get tracking number of course. I'm new to this so am wondering what people think about insuring the items they sell on eBay if they are higher dollar amounts... I've read some interesting posts on how to save costs with an eBay business. Curious to know if people choose to save costs by not insuring or consider it a necessity. Thanks for your input! Quote Link to comment Share on other sites More sharing options...
marcandre Posted July 26, 2014 Share Posted July 26, 2014 You should get 100 in insurance already. If your shipping thru ebay you get a pretty good discount so insurance is not bad. I usually do it. Trying to collect on insurance is a major pain in the ass though. Quote Link to comment Share on other sites More sharing options...
asharerin Posted July 26, 2014 Share Posted July 26, 2014 If I can't afford to lose it I don't list it on scambay. For all the rest I self insure. If you don't have alot of selling feedback you are scam bait so you may want to sell a few hundred cheap polybags or minifigs for a few months before listing sets. May as well get TRS first to save the 2% FVF on your more expensive gear anyway. Quote Link to comment Share on other sites More sharing options...
exciter1 Posted July 26, 2014 Share Posted July 26, 2014 I insure when the sale is over $150 and I use InsurePost. Quote Link to comment Share on other sites More sharing options...
meowingthings Posted July 26, 2014 Share Posted July 26, 2014 For a eBay veteran the mathematics of it say no but for a new seller probably yes. If you do use insurance buy Ebay's shipcover, do not use the USPS version. Quote Link to comment Share on other sites More sharing options...
Alcarin Posted July 26, 2014 Share Posted July 26, 2014 I insure stuff IF the value exceeds 100 Quote Link to comment Share on other sites More sharing options...
justafrog Posted July 26, 2014 Share Posted July 26, 2014 Everyone will have their own pain point. Insuring everything is a waste of money, certainly, but if it makes you more comfortable for items over a certain dollar value, especially for your first few sales, that's fine. Don't use USPS insurance, except what you get for free through using priority mail - they're expensive and hard to collect. If you print your label through eBay they offer a very good third party insurance that's not hard to collect from if the package is lost or damaged. Quote Link to comment Share on other sites More sharing options...
knarrff Posted July 26, 2014 Share Posted July 26, 2014 If you don't have alot of selling feedback you are scam bait so you may want to sell a few hundred cheap polybags or minifigs for a few months before listing sets. Isn't the insurance usually for the shipping only anyway - once you have a delivery confirmation (meaning, it got delivered) the insurance wouldn't kick in anymore, right? Everything with the buyer would be covered by eBay/paypal. The shipping insurance would kick in if your package gets lost or damaged. Am I wrong? Quote Link to comment Share on other sites More sharing options...
biniou Posted July 26, 2014 Share Posted July 26, 2014 I always insure packages which are more than $150. Sometimes I insure if it's lower (between $50/150) if I don't trust the buyer and suspect potential problems... At least, a tracking for any item more than $20/30. No less ! Quote Link to comment Share on other sites More sharing options...
naf Posted July 26, 2014 Share Posted July 26, 2014 I've collected on USPS insurance twice now since selling on ebay, and both times have been hassle free. I've received my check within 2 weeks of my claim being approved. I'm sure other people do have issues with it but so far it's been pretty painless for me. Insurance really depends on what kind of seller you are. If you're selling a lot of product, it makes no sense to insure every single thing. I'm only selling a handful of sets a month so losing something in the mail hurts more, hence I get insurance most of the time. 1 Quote Link to comment Share on other sites More sharing options...
jaisonline Posted July 26, 2014 Share Posted July 26, 2014 I've collected on USPS insurance twice now since selling on ebay, and both times have been hassle free. I've received my check within 2 weeks of my claim being approved. I'm sure other people do have issues with it but so far it's been pretty painless for me. Insurance really depends on what kind of seller you are. If you're selling a lot of product, it makes no sense to insure every single thing. I'm only selling a handful of sets a month so losing something in the mail hurts more, hence I get insurance most of the time. How did you go about fling the claim (in-person, # phone, etc..) and what happened to the package? Quote Link to comment Share on other sites More sharing options...
naf Posted July 26, 2014 Share Posted July 26, 2014 How did you go about fling the claim (in-person, # phone, etc..) and what happened to the package? Package was smashed both times, looked like someone stepped on it. The Lego box inside was also smashed, and in one case the seals were broken. I filed the claim online, the seller sent me pictures of the damage and I included them with the claim. Quote Link to comment Share on other sites More sharing options...
jhammill24 Posted July 26, 2014 Author Share Posted July 26, 2014 If I can't afford to lose it I don't list it on scambay. For all the rest I self insure. If you don't have alot of selling feedback you are scam bait so you may want to sell a few hundred cheap polybags or minifigs for a few months before listing sets. May as well get TRS first to save the 2% FVF on your more expensive gear anyway. Sorry...still new here...what does TRS and FVF mean? Thanks for the advice! Quote Link to comment Share on other sites More sharing options...
naf Posted July 26, 2014 Share Posted July 26, 2014 Sorry...still new here...what does TRS and FVF mean? Thanks for the advice! TRS - top rated seller FVF - final value fee Quote Link to comment Share on other sites More sharing options...
spener90 Posted July 26, 2014 Share Posted July 26, 2014 I only insure big items, and only through Fedex, who is the service I use, simply because they are more affordable. Quote Link to comment Share on other sites More sharing options...
donliu Posted July 26, 2014 Share Posted July 26, 2014 I insure anything over $150.00 Quote Link to comment Share on other sites More sharing options...
Soadfan4ever Posted July 26, 2014 Share Posted July 26, 2014 I've been using ShipSaver for expensive and international items. The one claim I had was hassle free. After going through their review process the money was sent to my PayPal within a few days. http://applications.ebay.com/selling?ViewEAppDetails&appType=1&appId=insurance.inkfrog.com Quote Link to comment Share on other sites More sharing options...
jhammill24 Posted July 30, 2014 Author Share Posted July 30, 2014 TRS - top rated seller FVF - final value fee Thanks for explaining! Sent from my iPhone using Brickpicker Quote Link to comment Share on other sites More sharing options...
jhammill24 Posted July 31, 2014 Author Share Posted July 31, 2014 If I can't afford to lose it I don't list it on scambay. For all the rest I self insure. If you don't have alot of selling feedback you are scam bait so you may want to sell a few hundred cheap polybags or minifigs for a few months before listing sets. May as well get TRS first to save the 2% FVF on your more expensive gear anyway. I would love to hear advice on acquiring a few hundred polybags or minifigs at a good enough discount so that I'm not losing a bunch of money just to improve my seller feedback. Quote Link to comment Share on other sites More sharing options...
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