So, How Does One Get Expensive Comics Insured for Shipping? 1 1

[KEY ISSUES Comics]

Hi everyone!

I usually sell in person, and when I do sell online, I rarely send more than $1,000.00 worth of books in a parcel because that's the limit for CanadaPost's coverage (I'm in Canada by the way). But I've just sold a $5K book to someone in Europe and was going to use FedEx because I assumed they could cover it in full. I was wrong. $1K is their max for collectibles.

How do you folks insure your pricey comic book parcels and with whom?

Thanks in advance.

 

[Myowncollector]

I dont buy insurance. Never had a package damaged or lost. So if some do I am still ahead based on previous savings. However I dont ship over seas unless I use global shipping which may just be a usa thing or have buyer wire me money or pay friends and family so if it doesn't get there it's not my problem. There are at least dozens of shipping insurers in the usa so I would do a google search for one in Canada. In USA every $100 in insurance is about 70 to 90 cents last I heard. Did European buyer pay more than a usa or Canadian buyer? If not I would find another buyer. If so make him or her pay cash or very least pay for whatever the insurance cost is. 

[KEY ISSUES Comics]

7 hours ago, Myowncollector said:

I dont buy insurance. Never had a package damaged or lost. So if some do I am still ahead based on previous savings. However I dont ship over seas unless I use global shipping which may just be a usa thing or have buyer wire me money or pay friends and family so if it doesn't get there it's not my problem. There are at least dozens of shipping insurers in the usa so I would do a google search for one in Canada. In USA every $100 in insurance is about 70 to 90 cents last I heard. Did European buyer pay more than a usa or Canadian buyer? If not I would find another buyer. If so make him or her pay cash or very least pay for whatever the insurance cost is. 

Buyers pay the same, regardless of location, but they do have to assume the additional cost of insurance. An original art dealer acquaintance of mine has recommended P.A.F. Insurance Services LLC. Has anyone dealt with them? They provided a quote. I'm going to get them on the phone today to confirm the details.

Thanks for the feedback. 

[comicdonna]

I believe many use collect insure.  Not sure if it's available in Canada.  

https://collectinsure.com/?gclid=CjwKCAjwnIr1BRAWEiwA6GpwNZpOotgqG71pweQr_bsiWmSjtDmpcNrwE7brbuC9OJpiVCBdCGydTBoCrpkQAvD_BwE

[comicdonna]

7 hours ago, Myowncollector said:

I dont buy insurance. Never had a package damaged or lost. So if some do I am still ahead based on previous savings. However I dont ship over seas unless I use global shipping which may just be a usa thing or have buyer wire me money or pay friends and family so if it doesn't get there it's not my problem. 

Really?  

[KEY ISSUES Comics]

55 minutes ago, comicdonna said:

I believe many use collect insure.  Not sure if it's available in Canada.  

https://collectinsure.com/?gclid=CjwKCAjwnIr1BRAWEiwA6GpwNZpOotgqG71pweQr_bsiWmSjtDmpcNrwE7brbuC9OJpiVCBdCGydTBoCrpkQAvD_BwE

Thanks. I'll look into it.

[lizards2]

1 hour ago, comicdonna said:

Really?  

I quit using USPS insurance when it became evident that was pretty near impossible to file a successful claim.

[comicdonna]

3 minutes ago, lizards2 said:

I quit using USPS insurance when it became evident that was pretty near impossible to file a successful claim.

My comment was about this line.

have buyer wire me money or pay friends and family so if it doesn't get there it's not my problem. 

[Readcomix]

11 minutes ago, lizards2 said:

I quit using USPS insurance when it became evident that was pretty near impossible to file a successful claim.

This is an important point Liz raises -- according to my postmaster, the route to a successful claim has a few key steps, including buyer cooperation. He said postal inspectors who decide on the claim would want to see the damaged book and packaging, would need an appraisal to prove value in the case of collectibles, and would then keep the book if they pay the claim. Not necessarily terrible thins, but clearly not easy to execute, and something anyone buying USPS insurance should be aware of.

[Sensei Ryan]

16 minutes ago, comicdonna said:

My comment was about this line.

have buyer wire me money or pay friends and family so if it doesn't get there it's not my problem. 

I thought that comment was all too telling, too.  This is why buyers should never us F&F unless they absolutely know that it is to a person they can trust..when someone like this is asking their buyers to do the same that's a sign to stay away.

[slg343]

2 hours ago, lizards2 said:

I quit using USPS insurance when it became evident that was pretty near impossible to file a successful claim.

If they lose the box it is really easy.  But damage is a real PIA to recover the money.

[Lightning55]

Regarding claims for USPS insurance in general, I have had no problem whatsoever.  But I haven't had to put in large claims, maybe $50-$100 for damage. 

I did it online completely.  I took a few photos, uploaded the tracking, filled out the required buyer/seller info, eBay sale info, if that's where it originated.  I put in a brief explanation, because that's all they have room for on the form. 

Got approved within 3 days, usually.  A check came each time within 2 weeks.  Couldn't be easier.  I would think if you have more than 2 per year, it might raise an eyebrow.  But it would be commensurate with your normal shipping frequency.  High volume shippers/receivers might have a lot of claims.

[John R]

U-PIC is a service that allows you to add insurance to a package no matter who you ship with. Not sure what the max amount they'll insure but you may want to look into it.

[BladeTX]

15 hours ago, Myowncollector said:

I dont buy insurance. Never had a package damaged or lost. So if some do I am still ahead based on previous savings. However I dont ship over seas unless I use global shipping which may just be a usa thing or have buyer wire me money or pay friends and family so if it doesn't get there it's not my problem. There are at least dozens of shipping insurers in the usa so I would do a google search for one in Canada. In USA every $100 in insurance is about 70 to 90 cents last I heard. Did European buyer pay more than a usa or Canadian buyer? If not I would find another buyer. If so make him or her pay cash or very least pay for whatever the insurance cost is. 

You are missing the best shipping option available which is Registered Mail since chain of custody through the mail system is constantly under lock and key.  Super cheap insurance for high value items.   I've shipped $10K value before in a large box with 10 CGC books and all in shipping, registered fee and insurance was $60.   I think $40 Priority with no insurance so only $20 to cover $10K... seems very reasonable.    And much better handling of the package for those who don't want a destroyed box (which I have received a few times and have bought maybe 60-80 CGC books).   Editied to add, this is available up to $50K.  IDK what to do beyond that level.

Edited April 24, 2020 by BladeTX

[James J Johnson]

5 hours ago, lizards2 said:

I quit using USPS insurance when it became evident that was pretty near impossible to file a successful claim.

Bingo!! For comics anyway. Filing claims that are successful with any carrier hinge upon your being able to provide them with a receipt for something that is not out of print or discontinued. A thing that can be replaced with the same item by either a retail outlet or manufacturer. Comics are considered antiques, and the carriers tend to view them as items of arbitrary value, unless you consider 12 cents to be their replacement value based on 1965 cover price.

I'm not saying it can't be done and there aren't instances when a carrier will actually pay out on a claim for an antique, but it sure is easier to get remedy if the item sent was damaged or lost and is still in print or being manufactured. That stated, USPS registered mail allows domestic insurance coverage of up to $25,000 and international coverage of up to $5000. But good luck collecting and navigating the hoops you'll have to jump through to try to collect if there's a claim.

Edited April 24, 2020 by James J Johnson

[BladeTX]

12 minutes ago, James J Johnson said:

Bingo!! For comics anyway. Filing claims that are successful with any carrier hinge upon your being able to provide them with a receipt for something that is not out of print or discontinued. A thing that can be replaced with the same item by either a retail outlet or manufacturer. Comics are considered antiques, and the carriers tend to view them as items of arbitrary value, unless you consider 12 cents to be their replacement value based on 1965 cover price.

I'm not saying it can't be done and there aren't instances when a carrier will actually pay out on a claim for an antique, but it sure is easier to get remedy if the item sent was damaged or lost and is still in print or being manufactured. That stated, USPS registered mail allows domestic insurance coverage of up to $25,000 and international coverage of up to $5000. But good luck collecting and navigating the hoops you'll have to jump through to try to collect if there's a claim.

Ahhh did not realize it would be such a pain to file a claim.  Not sure if CGC books help as you can generally find a market value if it is not a 1-off.  I can say I had a Registered Package "stuck" in the HUB near delivery location for 2 weeks and I got pretty nervous.  I escalated a tracker through USPS and they got it unstuck in a day and delivered the next.  Has anyone had a lost Registered package before?  I shipped a lot of rare coins with values up to $20K a whole lot and never had anything lost.

[jeffreyk]

If the book was sold on ebay or paid by paypal..wouldn't that be sufficient documentation for the claim as it is the price that was sold and paid?

[oldmilwaukee6er]

I just shipped / insured a $1700 USPS priority box without issues. The ins. was $24. 
However, if I had to do it again I would likely go the registered route because I forgot to also add signature confirmation to my box and was sweating the 3 days it was in transit.

Otherwise I self ins all my feebay packages. 

I've had one easy claim on a lost book via USPS priority (where I was receiver).  

Interesting convo 

 

Edited April 24, 2020 by oldmilwaukee6er

[Dark Knight]

I use USPS Registered Mail for higher value items to ship and price is very reasonable.  They insure up to $50k and is the most secured way to ship.  

[Primetime]

23 hours ago, KEY ISSUES Comics said:

Hi everyone!

I usually sell in person, and when I do sell online, I rarely send more than $1,000.00 worth of books in a parcel because that's the limit for CanadaPost's coverage (I'm in Canada by the way). But I've just sold a $5K book to someone in Europe and was going to use FedEx because I assumed they could cover it in full. I was wrong. $1K is their max for collectibles.

How do you folks insure your pricey comic book parcels and with whom?

Thanks in advance.

 

any collectibles I ship or are shipped to me are covered with my Collect Insure policy . For $1000, I can send USPS Priority Mail w/signature and it's covered for up to $2500. If I needed more than $2500 coverage, I just need to ship USPS Express w/signature or Registered w/signature or FedEx Overnight w/signature and it's covered for up to $60k per package.