posted on January 31, 2005 06:51:27 PM
Lately I have had several items that sold for less than $5.00. Because I think I am a pro at packing, I have not insured them. So far, none have been broken, so I am ahead by not buying insurance. Anyone else doing this??
Life Is Too Short To Drink Bad Wine
posted on January 31, 2005 07:17:55 PM
Glad you brought this up Sanmar. I got a case of widgets at the swap meet for about 50 cents each and they have been selling great guns for $5.00 each. These are the first items I've shipped in 4 years that can go first class mail. No way am I going to take a chance missing a bid on an item with that kind of margin by adding in insurance on the shipping. There's not much danger of damage, so if one gets lost, it would be more cost effective to just send a replacment. I do put D.C. on each one though.
A $75.00 solid state device will always blow first to protect a 25 cent fuse ~ Murphy's Law
posted on January 31, 2005 08:11:07 PM
I actually use Discount Shipping Insurance for a flat fee, they cover everything I ship out everywhere. I don't worry about whether or not the item got there anymore, because I am covered. What it comes down to is that you can make insurance optional, and then when something happens, 95% want you to cover it. Now, it is a non-issue for me.
posted on January 31, 2005 08:17:13 PM
Since DSI quoted me at $.90 per package under $100 (international shipping n all), I don't bother with the low priced items. I only insure items with a replacement cost to me of $10 or more.
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If it's really "common" sense, why do so few people actually have it?
posted on January 31, 2005 08:20:13 PM
They looked at my shipping history, quoted me a monthly fee that covers all of my shipping. It works out to about a quarter per package when the quote was made.
posted on January 31, 2005 08:23:58 PM
Yes, I self insure & for awhile I was losing about two packages a month. I sell rubber stamps & have several of each so it was easy to replace them, which I did.
I would mail in a bubble envelope & staple them shut. Now a rubber stamp feels like a small box inside the envelope so I figured maybe someone in the PO might be tearing them open because they thought something of value was inside & when they found out it wasn't, after tearing it, they had to discard it.
I was reading a post here about lost packages & some had only lost one or two a year so I was wondering why I was loosing so many & what could I do about it.
I stopped stapling & just self sealed the bubble envelopes thinking if someone wanted to take a peek they could & without the staples all they had to do was open it & then reseal the envelope & deliver it.
posted on February 1, 2005 05:57:35 AM
Hi
I have been self insuring all my packages for the last 6 months and Its working out just great for me. I figure if it dose get lost or damaged I will just refund the money and it is fast, and easy for me and the customer and no g problems have ever happened so I have been lucky,
I will continue to seft insure and I don't feel anything is wrong with doing that since if you have a problem you will just take care of it fast and simple for the customer and they will be happy for the quick service.
posted on February 1, 2005 08:24:29 AM
Sanmar,
i thought insurance is an option for the bidder,if they dont take out insurance,then it is SOL.
The problem with self insurance is that -if the buyer pays for it and you ship USPS and they see you did not take out insurance,they think you pocket their insurance money.
-sig file -------Life is one big happy 'All You Can Eat' buffet .
posted on February 1, 2005 09:23:51 AM
Self-Insurance works fine, as long as you do NOT call it INSURANCE!
If you collect FEES for INSURANCE & then do NOT provide proveable INSURANCE, that's tap-dancing on quicksand
What DOES work is to say that you QUARANTEE DELIVERY no matter what -- just incorporate yer "fee to quarantee" in yer SHIPPING FEE.
If I paid someone $1.30 & my packie came without any indication somehow that it had been INSURED officially, I'd sic Ralphie on ya
When I insure DSI, I always tell the buyer this:
"Your item was INSURED via DSI (a third-party shipping insurance company)
http://www.dsiinsurance.com/default.asp
In order to reduce loss, DSI requires that NO insurance markings be present on the package.
My insurance log entry for your item is your Delivery Confirmation number.
NOTE: in accordance with USPS regulations, loss claims can be presented no earlier than 30 days post-shipment, & no later than 90 days post-shipment."
Never have had a sqwak yet...
"For too long, too many people dependent on Social Security have been cruelly frightened by individuals seeking political gain through demagoguery and outright falsehood, and this must stop.The future of Social Security is much too important to be used as a political football." ~ Ronald Reagan
posted on February 1, 2005 10:13:16 AMIf you collect FEES for INSURANCE & then do NOT provide proveable INSURANCE, that's tap-dancing on quicksand
Not to mention that it is a federal crime to charge extra for insurance and not actually purchase it. You can self insure as long as the insurance coverage is hidden within the shipping costs and not mentioned as insured.
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Alive in 2005
posted on February 2, 2005 05:42:56 AM
I always self insure. Do the math. If your items average $25, and you insure each at a cost of $1.30 (or whatever it is now), the PO would have to lose one out of every 19.2307 of your packages for you to break even ($25 divided by 1.30). Not hard to see insurance is a big moneymaker for the PO.
I know the buyer is usually who pays for the insurance, but still... every increase in a buyer's cost can discourage bidding.
