Quick Tips for Shipping Insurance

how much is shipping insurance

By Aron Hsiao. eBay Expert

Aron Hsiao is a former eBay employee and a longtime eBay buyer and seller. A computing and technology expert and six-time author, Aron joined eBay in 2000 and continues to sell on eBay today. Through thousands of transactions Aron continues to maintain a perfect feedback score and profile; he has never received a negative rating.

You can learn more about my work, hobbies, and areas of expertise on my Google+ profile .

Before and During Shipping

Here are some of the most important.
  • Pack well for shipment. Any package that’s worth insuring during shipment is worth packing well. This is actually even more true for insured packages, since part of the claim review should anything go wrong will concern the degree to which your packaging was adequate for the rigors of shipping.
  • Buy as much insurance as the item is actually worth. Whether your eBay item sold for more than the market value of the item or less than it, insure the item for what it’s worth in retail channels, if such information is available to you. You are unlikely to get more insurance compensation for the item than its current retail value, so there

    is no point in paying any additional fees that result from higher insurance values; at the same time, even if the item sold for less than its retail value, the retail value is what must likely be spent to replace it.

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  • Use a trackable shipment method. Both UPS, Federal Express, and DHL all provide tracking numbers for each and every package that they carry. USPS and some others do not, and for these carriers you should take care also to purchase a tracking number (called “delivery confirmation” at USPS) so that you’ll actually know if or when an item gets lost, rather than wondering whether it is still “on the way” while you really ought to be filing an insurance claim.

Making a Claim

Even if you have a claim go bad or pay less than you’d like, continue to insure your packages whenever possible and to state this as your policy in auction listings. After all, with regard to partial claim payouts, something is better than nothing. And at the same time, mentioning in your auction listings that you insure all packages tends to draw bids from cautious buyers that might otherwise give your auction a pass.

Source: ebay.about.com

Category: Insurance

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