posted on April 27, 2001 07:53:15 PM
Actually if you are a company you can charge self insurance on an item. Yes you can keep it as an income to the company...But if there's a claim you pay it. That would be an expense from the company.
After thinking about it why would i pay a company for insuring my items, when i can self insure an item put the money as a income to the company. When a problem arises, and i have to pay out you do !!!
Also i do not understand how your company is going to work ??? in canada If i ship with canada post you say you need a tracking number in order to insure with you. There are no tracking numbers for products shipped threw canada post unless as a canadian uses XpressPost USA or Registered Mail. If i use either of those the product is already insured.
Now you may say that there is a tracking system with parcels that are not xpresspost or registered, but both the canadian and american postal service do not regonize each others bar codes
posted on April 27, 2001 08:06:39 PM
i do not understand then how would they know that the parcel arrived or not ??? without a tracking number ...your word..actually your ebay bidder word???
i wonder how long they would keep me after say five or 6 claims in xmass season in one week!!!
posted on April 27, 2001 08:35:00 PM
That's why your premium costs are tied in with your claims---it is not a bottomless pot---and the you need the buyer to sign a form that states the item did not arrive.
posted on April 27, 2001 08:44:52 PM
I emailed U-PIC a while back asking what they required in order to file a claim for the loss of an item sent by the USPS, and this is what I was told was involved:
1. 30 Day Wait from ship date for a loss. No wait for damage.
2. UPIC Claim Information Sheet filled out (they supply these sheets with the package they send you after you sign up)
3. Copy of original invoice
4. Copy of monthly reports including Declared Value (the records you keep of the items you send out)
5. Letter or email from your customer stating loss or damage. (they have a form available for this, also)
Thank you for the clarification on the customs label question.
you could also refer your buyers if you would rather not handle the insurance end.
Is this correct on how it will work once the web form will have "originating from Canada" in two months?
1.Canadian seller refers the buyer to U-pic's site if they want to insure their package originating from Canada.
2.Buyer fills in the online form to buy insurance and gets his coverage number.
3.We ship once we have been confirmned it's insured.
posted on April 28, 2001 01:08:19 PM
Good afternoon everyone:
"Actually if you are a company you can charge self insurance on an item. Yes you can keep it as an income to the company...But if there's a claim you pay it. That would be an expense from the company."
Companies that legally self insure do not charge directly for insurance. That is illegal. They either absorb the losses as a part of doing business or they charge you one shipping fee which is elevated to include a cushion for insurance. If you are not licensed or do not purchase through a licensed agent you cannot charge for insurance. There are State regulations and Federal regulations that must be followed. You have to take continuing education classes to renew your license etc. The insurance works just like real estate etc. You cannot sell a house without a license - same idea.
Buyers using U-PIC -
As a seller you can refer your buyers to U-PIC now and they can purchase on line for domestic shipments.
As a buyer you have the choice of purchasing on line or having an account to purchase. If
you have an account your rates are lower and right now you can use for International coverage.
There are no requirements for tracking. However, those using Delivery Confirmation are offered a lower rate as we do feel the useage of DC lowers the risk of a claim.
We have been selling this same insurance for 12 years. Our programs run similar to car insurance in that you if your claims exceed your premiums or a year's worth of premiums if you are new - you are subject to increase or cancelation. Just as if you get in a car accident you know that your rates may increase when you renew your policy.
Have a good day! Please let me know if there are any other questions or concerns you would like addressed.
posted on April 28, 2001 02:47:12 PM"You cannot sell a house without a license - same idea."
Where I live you most certainly can sell your own house without a license.
Actually, I carefully don't charge for 'self-insurance'. I sell FOB my post office. If my customer would like my terms changed to FOB his doorstep, I increase my shipping charge. I refer to this as my 'delivery guarantee'.
posted on April 28, 2001 03:04:35 PM
There are State regulations and Federal regulations that must be followed..
YES this is very true in AMERICA but i know for a fact that american and candian laws vary on this issue.
In Canada if you hold bussiness insurace, self insurace is cover under the same blanket. If you wanted to file a claim with your insurace company you deal with for lost postage you could. Alomost 90% of bussiness in canada carry bussiness insurace
But just like your company you file to many claims and your bussiness insurace would go up
How do i know ??? Well i looked into it before i started to self insure
