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!

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. 

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 insure when the sale is over $150 and I use InsurePost.

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.

I insure stuff IF the value exceeds 100

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.

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?

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 !

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.

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?

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.

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!

Sorry...still new here...what does TRS and FVF mean?  Thanks for the advice!

 

TRS - top rated seller

FVF - final value fee

I only insure big items, and only through Fedex, who is the service I use, simply because they are more affordable.

I insure anything over $150.00

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

TRS - top rated seller

FVF - final value fee

Thanks for explaining!

Sent from my iPhone using Brickpicker

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.